Japan to keep rates at very low levels

The Bank of Japan will adjust interest rates gradually, taking into account developments in the economy and prices, the bank's deputy governor Toshiro Muto, has stated. "We will closely examine the state of the economy and prices and adjust interest-rate levels at a gradual pace," said Muto at a recent meeting with business executives in Tokyo. The central bank will probably keep rates at very low levels for the time being as long as the economy and prices continue to move in line with its forecast made in April, he said. The Bank of Japan raised interest rates for the first time in a...