Tokyo, Dec. 20 (Jiji Press)—The Bank of Japan upgraded its assessment of the Japanese economy on Tuesday for the first time in 19 months while keeping its monetary policy unchanged.
“Japan’s economy has continued its moderate recovery trend,” the central bank said in a statement issued after its two-day policy meeting.
The BOJ cited pickups in exports and industrial production stemming from improved overseas economic conditions as well as firmness in personal consumption.
Previously, the BOJ said the economy “has continued its moderate recovery trend, although exports and production have been sluggish due mainly to the effects of the slowdown in emerging economies.”
The BOJ’s Policy Board voted 7-2 to maintain its monetary policy that controls both short- and long-term interest rates.
[Copyright The Jiji Press, Ltd.]