Japan's central bank decided Thursday to delay a hike in its key short-term interest rate from the current 0.25 percent.

The nine-member Policy Board of the Bank of Japan came to the decision by a vote of 6-3 at the end of its two-day meeting, in an effort to stimulate weak private consumption.

The news that the interest rates would stay unchanged sent key stock indexes higher. The 225-issue Nikkei Stock Average rose 0.63 percent to 17,370.93, while the broader Tokyo Stock Price Index of all First Section issues on the Tokyo Stock Exchange gained 0.49 percent to 1,715.17.

According to official data, Japan's average monthly household spending dropped a real 0.7 percent from a year earlier in November for the 11th consecutive monthly decline.

Source: Xinhua