TOKYO (AP) – Japan’s central bank is turning more upbeat about the nation’s economy after implementing an ambitious monetary policy aimed at boosting inflation and growth.
The Bank of Japan, ending a two-day policy board meeting Thursday, chose more optimistic language to describe the world’s third largest economy.
It said in a statement that the economy was “starting to recover moderately.”
It also said exports were picking and company profits were improving.
The bank has been engineering a stimulus program, known as “Abenomics” for the new Prime Minister Shinzo Abe, who took office late last year.
It kept its super-easy monetary policy unchanged. The BOJ is expanding the monetary base by about 60 trillion yen ($606 billion) to 70 trillion yen ($707 billion) over two years by mopping up Japanese government bonds.