TOKYO (dpa-AFX) - The Bank of Japan retained its key interest rate, as widely expected, amid heightened political uncertainty.
The policy board voted 7-2 to hold the uncollateralized overnight call rate to remain at around 0.5 percent, the bank said in a statement.
Previously, the BoJ had raised the benchmark rate to the current level from 0.25 percent in January.
Also, the board unanimously decided to dispose its holdings of exchange-traded funds and Japan real estate investment trusts, without destabilizing effects on the financial markets.
Further, policymakers expect economic growth to moderate, as trade and other policies lead to a slowdown in overseas economies and to a fall in domestic corporate profits.
Thereafter, Japan's economic growth is likely to rise, with overseas economies returning to a moderate growth path, the bank said.
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