The Bank of Japan maintained its massive stimulus programme and upbeat economic assessment on Friday, reflecting its conviction that inflation will accelerate toward 2 percent price growth without additional monetary easing.
This optimism was despite growing signs the world's third largest economy contracted in the April-June quarter on soft exports and weak household spending.
As widely expected, the BOJ reiterated its pledge to increase base money, or cash and deposits at the central bank, at an annual pace of 80 trillion yen ($641 billion) through purchases of government bonds and risky assets.
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This optimism was despite growing signs the world's third largest economy contracted in the April-June quarter on soft exports and weak household spending.
As widely expected, the BOJ reiterated its pledge to increase base money, or cash and deposits at the central bank, at an annual pace of 80 trillion yen ($641 billion) through purchases of government bonds and risky assets.
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