BoJ Minutes: Moderate Economic Recovery Likely To Continue

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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