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Updated Saturday, November 21, 2009 2:18 pm TWN, AFP

Japan central bank keeps super-low interest rates

TOKYO -- Japan's central bank left its super-low interest rates unchanged on Friday as the government declared for the first time in more than three years that Asia's biggest economy is in a phase of deflation. Concerns are mounting that a long bout of falling consumer prices could threaten Japan's recovery from its worst recession in decades, eating into corporate profits and prompting consumers to put off purchases.

The world's number two economy posted its strongest growth in more than two years during the third quarter of 2009, expanding 1.2 percent from the previous three-month period.

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