BOJ Unchanged About Upbeat Economic Assessment In Spite of Contraction Expected in April- June Quarter
Although, the April-June quarter showed slow exports and weak consumer spending but the Bank of Japan (BOJ) abstained from its expanding monetary stimulus any further. Governor Haruhiko Kuroda believes that the third largest economy in the world will come out from its recent weak economic activities and inflation as expected by the government will routinely pick up.
On Friday, the BOJ continued with its massive stimulus programme and the optimistic economic assessment which mirrors that it is convinced that the inflation will speed up to the two percent without any added economic stimulus.
The BOJ restated its assurance of increasing the base cash and deposits at Japan's central bank with an yearly 80 trillion yen target by buying government bonds and risky assets.
After the decision was taken, in a statement the BOJ said, "Japan's economy continues to recover moderately. Exports and output are picking up, albeit with some fluctuations."
Adding to the brighter spots the BOJ said that housing investment have picked up pace and has shown slightly optimistic results as compared to the previous quarter.
According to Masaki Kuwahara, an economist with Nomura Securities Co., the central bank of Japan thinks the that the economy is bounce back in the present quarter after facing a brief slowdown in the previous quarter that ended in June.
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