Bank of Japan more upbeat about economic recovery

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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. 182695_84826801

2013-07-11

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