MNI BRIEF: BOJ Keeps Econ, Inflation View, Ups Consumption
MNI (TOKYO) - The Bank of Japan board on Friday largely maintained its assessment on the overall economy and major economic components, although it slightly upgraded its assessment on private consumption, following the Board's decision to hold the policy rate steady at 0.25%.
“Japan’s economy has recovered moderately, although some weakness has been seen in part,” a statement released by the BOJ showed. “Japan’s economy is likely to keep growing at a pace above its potential growth rate.”
The bank said private consumption has been on a "moderate increasing trend despite the impact of price rises and other factors.” The previous view held that private consumption "has been resilient.”
“Inflation expectations have risen moderately,” the BOJ added.
The bank also maintained its view on future inflation, saying that in the second half of the projection period to March 2027, the medium- to long-term inflation expectations is likely to be at a level that is generally consistent with the price stability target.