Members of the Bank of Japan's monetary policy board felt that economic activity in Japan remains flat, minutes from the bank's April 27 meeting revealed on Monday.
The members also expected that the Japanese economy would return to a path of moderate recovery - but the present lack of improvement prompted them to take action.
At the meeting, the BoJ decided to add further monetary stimulus to the economy through enhanced purchases of the government bonds, stepping up its efforts to boost economic growth and fight deflation.
At the same time, the BoJ reduced the maximum outstanding amount of the Bank's fixed-rate funds-supplying operation against pooled collateral with a six-month term by JPY 5 trillion.
As expected, the benchmark uncollateralized overnight call rate was retained at 0-0.1 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.