Japan's Central Bank Keeps Policy Unchanged, Upgrades Economic Outlook
- BOJ says exports picking up, private consumption resilient
- Inflation expectations still weak, risks to economy remain
BOJ Upgrades Economic Outlook, Leaves Policy Unchanged
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The Bank of Japan closed a tumultuous year for monetary policy with an upgrade to its assessment of the economy while keeping its yield-curve and asset-purchase programs unchanged.
Following the board’s first policy meeting since Donald Trump’s election victory, the central bank forecast a moderate recovery trend to continue amid a pickup in exports, better business sentiment and resilience in private consumption. However, inflation expectations remain weak and risks to the outlook abound, ranging from developments in the Chinese and U.S. economies to Brexit and geopolitical uncertainties.