TOKYO - The Bank of Japan held its benchmark interest rate steady at 0.5 percent at a two-day policy meeting that ended Tuesday after lifting it a quarter point last month.
Government 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.
Recent market volatility has also clouded the outlook for the Japanese economy.
Some analysts speculate the BOJ will wait until midyear parliamentary elections in Japan before deciding to raise rates again.
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