BOJ declares recovery underway

|By:, SA News Editor

The Bank of Japan votes unanimously to stay the monetary policy course aimed at boosting the monetary base by ¥60-70T annually.

"Japan's economy is recovering moderately," the central bank says, marking an update to the language used in August, when Kuroda and company said the economy was "starting to recover."

At issue now is whether a sales tax hike (designed to help shore up the country's public debt) will derail the recovery and pressure BOJ Governor Kuroda to take further action to stimulate growth.

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The Nikkei (+0.1%) and the yen (-0.7%) are little changed on the news.

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