The Bank of Japan's Monetary Policy Board voted 8-1 to keep monetary policy unchanged at the Jan. 19 meeting, but a majority of the members said the risks posed by developments in overseas economies and domestic and foreign capital markets required "even closer attention." The minutes also said some of the members commented on the possibility of reducing interest rates. Nakahara was again the only member to vote against keeping the BOJ's monetary policy of guiding the key overnight call rate target to around 0.25% on average.