Japan's economic fundamentals are strong enough to put it on a recovery track, but timing is a vital element in securing an upswing, central bank governors from the world's key economies agreed Monday.
At the Bank of Japan's headquarters in Tokyo, central bank governors from more than 30 economies convened for a monthly meeting of the Bank for International Settlements.
According to officials at the BOJ, which hosted the one-day meeting, the participants also included nonmember banks from Thailand, Indonesia and other Asian economies. It was the first time the BIS has held such a meeting outside Europe, and only the second time it has convened other than at BIS headquarters, in Basel, Switzerland.