The Bank of Japan (BOJ) kept its policy rate target unchanged at 0.50 per cent for the 11th straight review this morning.
The move, which was widely expected, reflects caution among central bankers over market uncertainty and fallout from problems in the US housing sector.
The decision by the BOJ's nine-member board was by a vote of 8-1, with board member Atsushi Mizuno dissenting. Mr Mizuno has been proposing a rate hike since July.
The central bank has kept monetary policy on hold since raising the key overnight call rate target from 0.25 per cent in February, the first hike since July last year.
