BOJ Stands Pat On Policy, Keeps Economic View Intact

Source: thewillnigeria.com
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The Bank of Japan kept monetary policy steady on Friday and maintained its view that the economy is recovering moderately, encouraged by growing signs the benefits of its massive stimulus are spreading through broader sectors of the economy. 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 ($581 billion) to 70 trillion yen. Governor Haruhiko Kuroda will hold an embargoed news conference from 3:30 p.m. (0630 GMT) with his comments expected to come out any time after 4:15 p.m. (0715 GMT). The BOJ offered an intense burst of monetary stimulus in April, pledging to double the supply of money in two years by boosting purchases of government bonds and risky assets. It has stood pat on monetary policy since then. REUTERS