Members of the Bank of Japan's monetary policy board believe that the nation's economy is expected to continue its moderate recovery, minutes from the central bank's meeting on May 20 and 21 revealed on Wednesday.
The board also cautioned that there remained some downside risks to recovery, including developments in emerging markets and commodity-exporting countries.
The monetary easing that is in place appears to be having the intended results, the board said, as inflation expectations appear to be rising.
At the meeting, the central bank left its benchmark unchanged at 0 to 0.10 percent and also raised its assessment of capital expenditure.
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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.