The Bank of Japan maintained its record stimulus unchanged Wednesday despite escalating signs of a recession, citing the country’s continuous economic growth amid slowdown in emerging markets.
In a statement, the Japanese central bank has retained its evaluation of the economy from the past month. It added the downfall in emerging economies have affected the country’s exports and production.
Also, the BOJ reiterated its vow to bolster its cash and deposits at an annual pace of ¥80 trillion ($665 billion) through purchases of government bonds and risky assets.
Meanwhile, traders will await BOJ Governor Haruhiko Kuroda’s news conference later in the day to explain their monetary policy decision.
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