Investing.com - The Bank of Japan made no changes to its aggressive monetary easing policy on Tuesday, while upgrading its view of the domestic economy.
“Japan’s economy has been picking up” and “exports have started picking up,” the BoJ said in its statement.
In its fourth meeting under the helm of Governor Haruhiko Kuroda, the BOJ affirmed plans to increase the monetary base at an annual pace of about JPY60 trillion to JPY70 trillion.
The central bank also said “some indicators suggest a rise in inflation expectations,” and that the change in consumer prices was “likely to gradually turn positive.”
Following the decision, the yen was higher against the U.S. dollar, with USD/JPY shedding 0.36% to trade at 98.41.
Meanwhile, Asian stock markets were mixed. Japan’s Nikkei 225 Index tumbled 1.5%, Australia’s ASX/200 Index added 0.3%, while Hong Kong's Hang Seng Index declined 1%.
“Japan’s economy has been picking up” and “exports have started picking up,” the BoJ said in its statement.
In its fourth meeting under the helm of Governor Haruhiko Kuroda, the BOJ affirmed plans to increase the monetary base at an annual pace of about JPY60 trillion to JPY70 trillion.
The central bank also said “some indicators suggest a rise in inflation expectations,” and that the change in consumer prices was “likely to gradually turn positive.”
Following the decision, the yen was higher against the U.S. dollar, with USD/JPY shedding 0.36% to trade at 98.41.
Meanwhile, Asian stock markets were mixed. Japan’s Nikkei 225 Index tumbled 1.5%, Australia’s ASX/200 Index added 0.3%, while Hong Kong's Hang Seng Index declined 1%.