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Tuesday, May 20, 2008

BoJ Keeps Key Rate at 0.5%

The Bank of Japan kept interest rates on hold at its first meeting after slashing its growth estimate and shelving a two-year policy of seeking higher borrowing costs.

Governor Masaaki Shirakawa and his six colleagues left the overnight lending rate at 0.5 percent in a unanimous decision, the central bank said in a statement released in Tokyo today. The rate is the lowest among major economies.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Apr 14
04:15 Visitor Arrivals (YoY) 1 1.1% 13.4%
04:31 Rightmove House Price Index (YoY) 1 1.3% 1.0%
04:31 Rightmove House Price Index (MoM) 1 1.4% 1.1%
12:00 Producer and Import Prices (YoY) 1 -0.1% -0.1%
12:00 Producer and Import Prices (MoM) 1 0.1% 0.2% 0.3%
17:30 OPEC Monthly Market Report 1
18:00 Wholesale Sales (MoM) 1 0.4% 1.2%
21:00 3-Month Bill Auction 1 4.175%
21:00 6-Month Bill Auction 1 4%
21:30 Fed's Barkin speech 2
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