Bank of Japan stands pat on policy, keeps economic view intact
TOKYO (REUTERS) - 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 (S$ billion) to 70 trillion yen.
Governor Haruhiko Kuroda will hold an embargoed news conference later today.
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.