The Bank of Japan, or BoJ, kept its monetary policy unchanged at its September meeting, the central bank announced Thursday in a statement following the conclusion of its 2-day monetary policy meeting.
The Bank also announced its decision to retain its policy of expanding monetary base at an annual rate of 60-70 trillion yen.
Also, the Bank lefts its asset purchase policy unchanged.
Regarding the Japanese economy, the bank maintained its view that the economy has continued to recover moderately as a trend, though the subsequent decline in demand following the front-loaded increase prior to the consumption hike has been observed.
On housing investment, the bank modified its assessment and said that a decline in housing investment following the front-loaded increase has continued. Previously, the BoJ had said that housing investment has remained resilient as a trend and the effects of the decline in demand following the front-loaded increase have gradually begun to wane on the whole.
The economic outlook of the central bank was maintained unchanged
The bank reaffirmed that the quantitative and qualitative easing has been exerting its intended effects and that the bank will continue with the policy to achieve the price stability target of 2 percent.
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