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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.