Bank of Japan, the Japanese Central Bank has kept the interest rate in the country unchanged. The bank took the decision after analyzing falling business confidence in Japan as well as weak health of the global economy.



The Bank has left the rate at 0.5 percent after Governor Toshihiko Fukui and his colleagues voted for an unchanged rate.



Japan's Government has also declined the growth forecast for the country's economy keeping in view slowing business activities and falling exports sector. The economy is forecasted to grow by 1.3 percent for the current fiscal year.



Analysts and planners in the country expect a rate rise before mid-2008