The Bank of Japan on Wednesday said the economy is expected to return to a moderate recovery path as the pace of recovery in overseas economies picks up and as reconstruction-related demand after the earthquake disaster gradually strengthens.
"Japan's economic activity has shown some signs of picking up, although it has remained more or less flat," the BoJ said in its monthly report.
Yesterday, the policy board decided to retain the benchmark uncollateralized overnight call rate at 0-0.1 percent. Also, it refrained from announcing additional stimulus.
The central bank sees the change in consumer prices to remain at around zero percent for the time being.
by RTT Staff Writer
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