The Bank of Japan said Friday it would maintain aggressive monetary easing measures to combat stubborn deflation and stimulate the country’s economy.
Japan’s economy “has continued to recover moderately,” the bank said after a two-day policy meeting. However, Japan’s “exports have shown some weakness,” it added.
In April 2013, the bank decided to introduce aggressive monetary easing steps in order to achieve 2 per cent inflation within about two years, in a country which has been plagued by 15 years of deflation.
The bank expected consumer prices to rise 1.3 per cent in the current financial year through March 2015.