The Bank of Japan kept its monetary policy unchanged, as expected, on Friday.

The bank decided by an 8-1 majority vote to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion.

The bank also left its asset purchase policy unchanged. The bank’s view on the domestic economy, core consumer prices, industrial production and consumer price inflation was also unchanged.

The Bank of Japan is of the view that public investment has entered a moderate declining trend, although at a high level. Previously, it was felt that public investment was more or less leveled off at a high level.

The bank also said following the May meeting that private consumption has been resilient against the background of steady improvement in the employment and income situation. In the previous statement, the bank said private consumption recovery in some areas has been sluggish.

The material has been provided by InstaForex Company –