BOJ keeps positive economic view
The Bank of Japan maintained its upbeat economic view on most of the country's nine regions in a quarterly post on Monday, thus indicating its confidence that a tightening job market will gradually increase wages and also underpin a steady economic recovery.
However, some regions pointed out to weakness in private consumption including the Tokai central Japan region, which is a home to auto giant Toyota Motor Corporation, where a strong yen affected corporate profits and also dampened consumer sentiment.
BOJ Governor Haruhiko Kuroda maintained his positive view of the Japanese economy and reiterated the major bank’s intention to maintain ultra-loose monetary policy for as long as required to meet its ambitious 2% inflation objective.
The country’s economy keeps recovering modestly as a trend, though some weaknesses are observed in exports as well as output due to the effect of slowing growth in emerging economies.