The Bank of Japan on Friday said that industrial production may improve moderately going forward reflecting developments in demand at home and abroad.
In the monthly report released a day after concluding two-day meeting of the Policy Board, the central bank said industrial production has been relatively weak and the pick-up in exports has moderated.
Public investment, private consumption and business fixed investment have been showing an upward trend in the recent months, the bank noted. Housing investment has also been picking up.
The bank's assessment of the overall economy was unchanged. BoJ said the economic activity has started picking up moderately and will return to a moderate recovery path as domestic demand remains firm and overseas economies emerge from the deceleration phase.
At the meeting, the Policy Board decided to refrain from adding more stimulus to the economy and retained the interest rate close to zero.
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