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Bank of Japan holds off fresh policy action

Published on Feb 14, 2013 12:24 PM

TOKYO (AFP) - The Bank of Japan Thursday held off pulling the trigger on fresh policy action, after it announced an indefinite easing programme last month, while serving up a slightly rosier view of the economy.

Following a two-day policy meeting, the BoJ also held rates steady at zero to 0.1 percent, a widely expected move as its Governor Masaaki Shirakawa prepares to make way for new leadership.

The bank gave a cautious view of the world's third-largest economy, which remained stuck in a recession after contracting in the last three months of 2012, according to official data released earlier Thursday.

It said in a statement the economy appeared to have stopped.

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