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Japan's central bank keeps policy steady

08-10-2012 17:51 BJT

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Japan's central bank there kept monetary policy steady today, but cut its assessment on exports and output. The move also signals the Bank of Japan is ready to expand stimulus again if risks to the outlook intensifies. As widely expected, the BOJ maintained its key policy rate in a range of zero to 0.1 percent.

It refrained from topping the 70 trillion yen target for its asset buying and loan program. That shows the central bank is willing to sit on the sidelines just like the Federal Reserve, the European Central bank and the Bank of England for now.

Pressure for immediate action has eased with the yen having barely moved after last week’s better-than-expected US jobs data. In the meantime, the BOJ maintained its warning that the global economic outlook remained highly uncertain, with improvements in overseas growth seen limited in scope.

Editor:Wang Xiaomei |Source:

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