BoJ Keeps Monetary Easing Plan Unchanged

The Bank of Japan on Wednesday decided to keep its monetary easing program unchanged from that announced in April and said the economy has started to pick up. 

Reaffirming its latest easing measures, the central bank's Policy Board said the bank will conduct money market operations so that the monetary base will increase at an annual pace of about JPY 60-70 trillion. 

The bank will continued to purchase Japanese government bonds so that their amount outstanding will increase at an annual pace of about JPY 50 trillion. 

The average maturity of the bank's JGB purchases will remain at seven years. 

The Policy Board noted that the economy has started to pick up. 

Exports have stopped decreasing with overseas economies heading towards a pick up, the policymakers noted.