BoJ has kept monetary policy stable and maintained its upbeat assessment of the economy on Friday, indicating its conviction that inflation will hit its 2% target without additional monetary stimulus.
BOJ repeated its pledge to increase base money, or cash and deposits at the central bank, at an annual pace of 80 trillion yen ($648 billion) through purchases of government bonds and risky assets.
The policy board made the decision by an 8-1 vote.
It also said it will cut the number of policy-setting meetings to eight each year, from the current 14.
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