The Bank of Japan kept monetary policy steady on Thursday and revised up its assessment of the economy, encouraged by growing signs the benefits of its stimulus policy are broadening.
As widely expected, the BOJ voted unanimously to maintain its pledge of increasing base money, or cash and deposits at the central bank, at an annual pace of 60 trillion yen ($602 billion) to 70 trillion yen.
“Japan’s economy is recovering moderately,” the BOJ said in a statement, revising up its assessment of the economy. Last month, it said Japan’s economy is starting to recover moderately.
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