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BOJ raises economic assessment

02-16-2011 09:02 BJT

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The Bank of Japan has kept its monetary policy unchanged, and maintained the size of its asset purchasing program. But it raised its assessment of the country's broader economy for the first time in nine months.

The Bank of Japan raised its economic assessment Tuesday on signs that an end to stagnation is near, cheered by a rebound in exports and factory output.

The move is seen as signaling that another monetary easing is not on the horizon, with interest rates already low in a range of zero to 0.1 percent.

Driven by robust demand in fast-growing Asia, the central bank sees the economy heading towards a moderate recovery after hitting a soft patch.

Japan's economy shrank slightly in the final quarter of last year, but the BOJ sees the resumption of a moderate recovery toward the middle of this year with the yen continuing to ease off a 15-year peak against the dollar hit late last year.

The BOJ last year cut interest rates effectively to zero and set up a $60 billion fund to buy assets ranging from government bonds to private debt.

Editor:Xiong Qu |Source: CNTV.CN

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