Bank of Japan Gov. Toshihiko Fukui said Thursday the Japanese economy remains on a recovery track, despite recent bearish economic indexes.
“The basic mechanism of Japan’s economic recovery hasn’t been hurt, although there are mixed signs of strong and weak economic indicators,” he said.
His comments were in line with the BOJ’s monthly report for September released the same day, which says the economy continues to recover. But the report also says exports and industrial production increased at a slower pace, given the weaker growth in U.S. and Chinese economies compared with last year.
Also Thursday, the BOJ’s policy-setting panel decided not to change its ultraeasy monetary stance. The BOJ has said it will keep the stance until the country’s consumer prices start to rise steadily.
The nine-member Policy Board decided unanimously to maintain the target for the outstanding balance of banks’ deposits at the BOJ to a range between 30 trillion yen and 35 trillion yen.
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