BOJ upgrades economic assessment

The Bank of Japan slightly upgraded its assessment of the economy Wednesday 13 July at the conclusion of its monetary policy meeting, saying that the recovery remains on track.

"The economy is in the process of emerging from its soft patch although we can't yet say that it is completely out," Bank of Japan governor Toshihiko Fukui told reporters.

Earlier in the day, the bank's policy board left its target range for liquidity, or commercial banks' account balances at the central bank, the same