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Atsushi Mizuno, a member of the Bank of Japan’s Policy Board, said Thursday the central bank’s decision to keep interest rates on hold for now has a “positive meaning,” indicating he sees no need for higher borrowing costs anytime soon.

“The fog hanging over Japan’s economy will stick around for the time being,” Mizuno said in a speech to business executives in Aomori Prefecture. “There is a positive meaning for the central bank’s board to keep policy unchanged.”

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