Bank of Japan to keep interest rate at one percent

Bank of Japan has decided to keep the interest rate at one percent like the Bank of England and ECP. Eight-member Monitory Policy Board of the bank said at the end of the two-day session that to remove the negative effects of the global financial crisis on the economy, the interest rate would be kept at one percent. Board said that the effects of the global financial crisis were reducing in Japan however the recover y would start from March 2010. After Japan got the machinery orders, its stock market improved and yens value also improved in comparison to the dollar.