Bank of Japan keeps main interest rate unchanged
The Bank of Japan kept its main interest rate unchanged on July 31, after increasing it to a 31-year high in June, as it slightly increased its economic growth outlook for this year.
The BoJ said in a statement that its policy board agreed by an eight-to-one majority to keep its benchmark at 1.0 percent, a move widely expected by markets.
The yen weakened on the decision, which came a day after it rallied against the dollar -- fuelling speculation that Japanese authorities had intervened in currency markets.
Friday's announcement came as bank officials come under pressure to tighten monetary policy as inflation creeps up and the yen wallows around a four-decade low against the dollar.
