Japan's central bank keeps its key rate at 0.75%
The Bank of Japan has kept its benchmark rate unchanged at 0.75%, citing concern over higher prices for oil and other products due to the war in Iran.
The decision Tuesday from Japan’s central bank was expected, though the 6-3 vote among monetary policy board members was not unanimous.
Pressures have been growing for Japan to gradually raise interest rates after years of keeping the benchmark rate near or below zero to combat deflation.
The U.S. Federal Reserve and central banks in Europe are also meeting on interest rates this week.
The benchmark Nikkei 225 index dipped more than 1% after the BOJ's decision.
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