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Tue Jul 4 18:34:53 2006 - Bank of Japan to Raise Interest Rates

Analysts forecasted Tuesday the Bank of Japan (BOJ) will raise key interest rates next week for the first time in six years, in an attempt to get in line with other main central banks across the globe.

According to the Japanese news agency Kyodo, sources close to the BOJ seek to end a policy of zero interest rates when its members meet next July 13th and 14th.

The economists estimated Japan's central banking authority to increase its interbank rate from 0.0 to 0.25 percent, which would be the first hike in six years.

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