The Bank of Japan’s Policy Board has decided to retain the country’s interest rate at 0.1%.

The monetary policy decision was made without dissent, and was made as Japan continues its moderate recovery, which has been boosted by improving economic conditions overseas.

Export and production have risen, as has private consumption, although employment remains in some difficulty.

The decision to leave the rate unchanged was widely anticipated, and follows similar moves by the Bank of England and the European Central Bank (ECB) to leave the respective interest rates of the UK and the eurozone at 0.5% and 1%, both of which are historic lows.

The UK has had the same interest rate, its lowest ever, for more than a year, and the interest rate was not expected to change this month.

Later in June, the Coalition Government will lay out its emergency Budget, which is commonly thought to include spending cuts and tax hikes, possibly including VAT.