The Bank of Japan kept monetary policy steady on Friday and upgraded its assessment of private consumption and overseas growth, signaling its confidence that an export-driven economic recovery was broadening and gaining momentum.
But Governor Haruhiko Kuroda is likely to reassure markets the BOJ will still lag well behind the Federal Reserve in dialing back its massive stimulus program, with inflation far from reaching the BOJ’s 2 percent target, say sources familiar with its thinking.
“Private consumption has shown increased resilience against a background of steady improvement in the employment and income situation,” the BOJ said in a statement announcing the policy decision.
Gold Slightly Lower as Fed Surprises With Upbeat Rate Statement
Is a BoE Rate Hike Closer Than We Thought?
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Craig Erlam
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