Bank of Japan holds off new monetary easing measures
TOKYO (AFP) - The Bank of Japan on Friday held off fresh monetary easing measures, but its chief said he was ready to act if the economy took a hit from a sales tax hike or US debt default.
After a two-day policy meeting, BoJ officials issued an upbeat statement which said the economy was still "recovering moderately" while overseas economies were "heading toward a pick-up".
The bank had been widely expected to hold fire as it studies how its unprecedented monetary easing plan, which pumps huge amounts of money into the financial system, was rippling through the world's number-three economy.
But bank governor Haruhiko Kuroda said he was ready to pull the trigger on fresh policy moves if the economy heads south.