The Bank of Japan (BOJ) kept monetary policy steady by a unanimous vote on Wednesday, but revised up its forecast on expenditure – a traditionally weak indicator – a move that’s viewed positively by analysts.
As expected, the central bank maintained its pledge to increase the monetary base at an annual pace of 60-70 trillion yen and kept its overall assessment that the world’s third-biggest economy continues to recover moderately.
The yen weakened slightly to 101.37 against the U.S. dollar on the news.
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