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BOJ stands pat, offers bleaker view on exports and output

As widely expected, the BOJ reiterated its pledge to increase base money, or cash and deposits at the central bank, at an annual pace of 80 trillion yen (USD 664 billion) through purchases of government bonds and risky assets.

BOJ stands pat, offers bleaker view on exports and output

The Bank of Japan kept monetary policy steady on Tuesday but warned that the country’s exports and output were feeling the pinch
from slowing demand in emerging markets.

As widely expected, the BOJ reiterated its pledge to increase base money, or cash and deposits at the central bank, at an annual pace of 80 trillion yen (USD 664 billion) through purchases of government bonds and risky assets.

The policy board decision was made by an 8-1 vote.

Read More: Kuroda says oil may prevent Japan hitting 2 percent inflation

“Japan’s economy has continued to recover moderately but exports and output are affected by the slowdown in emerging economies,” the BOJ said in a statement announcing the decision.

It also cut its assessment of exports and factory output, saying they are flat.

BOJ Governor Haruhiko Kuroda will hold a news conference at 3:30 p.m. (0630GMT) to explain the policy decision.

The BOJ has kept policy unchanged since expanding its stimulus programme in October last year.

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