Bank of Japan may hold rates.

Financeroll.com (21/11) -- The Bank of Japan may consider more measures to soothe frazzled money markets at a meeting this week and keep interest rates steady until a shrinking economy or the global financial crisis demand a more drastic response.
The central bank cut its benchmark rate by 20 basis points to 0.3 percent last month, and economists say it may consider another cut either next month or early next year.


But with its benchmark already the lowest among the Group of Seven rich nations and the economy in its first recession in seven years, the BOJ has little room to manoeuvre on monetary policy.



Last week Seiji Nakamura, a member of the BOJ's rate-setting board, said he did not see an immediate need for a rate cut and warned that very low rates could disrupt money markets.(RTR/hqm)