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BOJ Offers More Upbeat View

The Bank of Japan kept monetary policy steady on Friday and offered a slightly more upbeat view on overseas growth, signaling confidence that the economy is on course to meet its inflation target next year without additional stimulus.

Investors were focusing on what the central bank’s governor, Haruhiko Kuroda, had to say later in the day about measures taken by the European Central Bank last week to ease pressure on the strong euro and fend off the risk of a Japan-style deflation.

The Bank of Japan, or B.O.J., is increasingly convinced Japan will continue its modest recovery, with companies ramping up capital spending and consumer confidence holding up despite the pain from a recent sales tax hike.

NY Times [1]

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