Bank of Japan strikes upbeat tone as it keeps policy on hold

The Bank of Japan
The Bank of Japan kept policy on hold at its latest meeting

The Bank of Japan (BoJ) decided to leave policy settings unchanged at its June meeting, but turned more upbeat on the economic outlook.

Although there has been speculation about an early exit from the stimulus programme, the BoJ, as most economists expected, decided to keep the monetary policy on hold by a 7–2 majority vote at its monetary policy meeting on June 15–16.  

Following the upgrade of its assessment of the economy in its April outlook report, the BoJ turned even more upbeat in its a