BOJ doesn’t change its policy

BOJ doesn’t change its policy

On Thursday, the Bank of Japan kept monetary policy intact and also offered a more positive view of the national economy than the previous month, indicating its confidence that a pick-up in overseas demand will assist to sustain an export-driven revival.

However, Japan’s major financial institution moderately reduced its inflation prediction for this fiscal year in a quarterly review of its projections, telling that it’s about to maintain its massive monetary stimulus for the time being to meet its ambitious 2% objective.

As the BOJ revealed, Japan's economy has been turning towards a modest expansion, compared with last month's assessment that the Japanese economy keeps reviving modestly as a trend.

In a widely expected move, Japan’s major bank maintained the 0.1% interest charged on a portion of excess reserves, which commercial banks park at the major bank.

At the two-day policy gathering, which ended on Thursday, the major bank also kept its yield objective for 10-year government bonds around 0%. 

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