|
 TOKYO (AP) - The Bank of Japan held its benchmark interest rate steady at 0.5 percent at the end of a two-day policy meeting Tuesday after lifting it a quarter point last month amid signs of continued economic growth.
But data released earlier this month showed that consumer prices were flat for the first time in eight months in January, fueling speculation that the central bank would hold off for quite awhile before raising interest rates again.
Price stability is particularly important for Japan because the nation's economy was plagued for years by deflation, or continuously falling prices, which dragged on growth.
|