Japan's economy is expected to continue recovering moderately, the Bank of Japan repeated in its monthly report released Monday.
The bank said exports are expected to increase moderately as emerging economies move out of their deceleration phase. The bank last month said exports are expected to remain more or less flat.
The economy has continued to recover moderately, although exports and production have been affected by the slowdown in emerging economies, the bank reiterated.
Business fixed investment is projected to continue increasing moderately and private consumption to remain resilient. Housing investment is projected to continue picking up.
Reflecting these developments in demand both at home and abroad, the bank said industrial production is likely to remain more or less flat for the time being, but after that, it is set to increase moderately.
The BoJ last week kept its monetary base target unchanged but unveiled a new program to buy exchange-traded funds to encourage capital investment.
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