The Bank of Japan held its uncollateralized overnight call rate unchanged at a range of 0 to 0.1% by a unanimous vote. The Bank also made no changes to its other monetary policy tools e.g. the 40 trillion yen asset purchase program. The Bank said in its statement: “Japan’s economic activity is picking up with an easing of the supply-side constraints caused by the earthquake disaster. After declining sharply following the earthquake, production has recently shown clear signs of picking up with the easing of supply-side constraints.”