BOJ leaves massive stimulus unchanged

|By:, SA News Editor

As expected, the Bank of Japan has left its policy unchanged and maintained its target of expanding the monetary base by ¥60-¥70T ($720B) a year.

The BOJ again said the economy is "recovering moderately," noting that corporate capex has been rising as profits have improved.

However, the BOJ is concerned by risks from overseas, including Europe's debt problems, emerging markets and the pace of the recovery in the U.S.

The decision came just days after Japanese Prime Minister Shinzo Abe announced that the government would go through with a planned rise in sales tax to 8% from 5%, which has caused uncertainty about the impact on the economy.

Nikkei -0.9%, USD-JPY -0.1% to ¥97.12.

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