BOJ Maintains Stimulus in 8-1 Vote

The Bank of Japan on Friday kept its massive monetary stimulus program intact, as widely expected, and revised up its assessment of the economy.

In an 8-1 vote, the central bank pledged to increase base money at an annual pace of 80 trillion yen ($660 billion) through purchases of government bonds and risky assets.

In a statement, the BOJ maintained that the world’s third-largest economy has continued to recover moderately. Governor Haruhiko Kuroda will hold a news conference at 3:30pm local time to explain the policy decision.