The Bank of Japan kept its massive stimulus unchanged on Tuesday as expected by economists.
In a statement, the BoJ announced that the policy board headed by Governor Haruhiko Kuroda decided by an 8-1 majority vote to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion.
The bank will conduct purchases in a flexible manner in accordance with financial market conditions.
The bank also revealed that private consumption has been resilient and housing investment has been picking up against the background of steady improvement in the employment and income situation.
The bank said that the annual rate of increase in consumer prices was flat. Inflation expectations appear to be rising on the whole from a somewhat longer-term perspective.
The BoJ maintained its optimistic assessment of the economy by stating that the economy has continued to recover moderately as a trend.
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