Rangoon general hospital's emergency ward said while there were no death, it has receives four injured from the blast in front of the City Hall, opposite the Bandoola Park.
The blast took place at about 10:40 a.m (local time) on Thursday morning.
"There is no death. But four people were injured. I don't know their names," an official at the General Hospital told Mizzima. But the official declined to provide further details, citing that he was not authorize to speak to the press.
Earlier, an eyewitness told Mizzima one person died and three were severely injured from the blast.
But the Rangoon general hospital said the blast caused four injured with no death.
But a restaurant owner near the Bandoola Park said he heard the blast and saw at least three people were injured.
""I heard a loud explosion, and when I rushed to see, I saw about three people injured," the restaurant owner told Mizzima over telephone.
The injured people included roadside vendors and people waiting for bus. Police immediately arrives the scene and cordon-off the Bandoola street.
But the Kyauktada police station, under whose jurisdiction occurred the blast, when contacted by mizzima said, "We heard the loud explosion, but we are not sure whether it was a bomb or not, we are still investigating the incident."
A policeman who arrived at the scene to investigate the blasts said the explosions were the result of time-bombs. He also confirmed that another unexploded bomb was recovered.
The policeman added that a fellow police officer found a tape recorder which contained the unexploded time-bomb. But fortunately, he said, the police were able to defuse the ordinance five minutes before it was set to go off.
Mizzima correspondent in Rangoon said police unknowingly brought the unexploded time-bomb, which was hidden in a tape recorder, into Rangoon's City Hall. However the anti-explosion squad, which noticed the presence of the bomb, defused it five minutes before it was timed to detonate.
"We nearly got a reward of ten million kyat," a policeman humorously told his colleagues after the bomb had been defused. The policeman was citing the words of Burma's Police Chief, Khin Yee, who during a press conference said a border-based opposition group had announced a reward of ten million kyat to anyone who successfully bombed Rangoon's City Hall.
Hours later, commander of the Rangoon Military Division, Maj. Gen. Win Myint, and the Mayor of Rangoon, Maj. Gen. Aung Thein Linn, arrived on the scene to inspect on the blast.
A roadside vendor who witnessed the blast said it scattered the dust bin in the air.
And an official of the Rangoon Division Bus Registration Office, who was stationed in front of Bandoola Park at the time of the blast, said the sound of the explosion still deafens his ears.
A report from Reuters cited police as saying four people were injured.
"It seems to have been a small bomb, but we are still carrying out our investigation," Reuters quoted a policeman as saying.