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Bank of Japan keeps monetary policy steady

FXStreet (Bali) - The Bank of Japan kept its monetary policy steady by unanimous vote, as widely expected by market participants, pledging to increase monetary base at annual pace of 60-70 trln yen.

Key headlines (via Reuters)

Japan's economy continues to recover moderately as a trend but some weakness seen in production due to sales tax hike

Boj revises down assessment of industrial output

Boj says industrial output has been showing weakness recently due in part to inventory adjustments

Boj: board member shirai disagreed with description of inflation expectations

Boj: board member shirai proposed saying growing number of indicators shows inflation expectations have been flat recently

Boj board member kiuchi proposed making 2 pct inflation target a medium- to long-term goal, which was turned down by 8-1 vote

Business sentiment has generally stayed at a favorable level but improvement has paused due to sales tax hike

Japan BoJ Interest Rate Decision remains unchanged at 0.1%

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