The Bank of Japan said Tuesday it will keep its key interest rate unchanged at just above zero, as widely expected, and reiterated its determination to fight deflation.
The seven-member Policy Board unanimously voted to maintain the uncollateralized overnight call rate at around 0.1 percent.
"The bank recognizes that it is a critical challenge for Japan's economy to overcome deflation and return to a sustainable growth path with price stability," the BOJ said in a statement. "To this end, the bank will continue to consistently make contributions as the central bank" and will maintain "the extremely accommodative financial environment."