The Bank of Japan kept monetary policy steady on Wednesday and maintained its upbeat consumer inflation forecasts, encouraged by signs that a broadening economic recovery may nudge firms into spending more on wages and investment.
As widely expected, the BOJ voted unanimously to maintain its pledge of increasing base money, or cash and deposits at the central bank, at an annual pace of 60 trillion to 70 trillion yen ($575-671 billion).
BOJ board member Sayuri Shirai opposed a portion of the BOJ’s economic assessment, saying that the pace of improvement in job and income conditions must be mentioned among risks to the economic outlook.
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