BOJ keeps rates steady, cuts economic assessment
(For more stories on the Japanese economy click [ID:nECONJP])
TOKYO, Aug 19 (Reuters) - The Bank of Japan cut its economic assessment on Tuesday, while keeping its interest rate target unchanged at 0.50 percent by a unanimous vote, as widely expected.
The central bank said in a statement that economic growth had been sluggish due to weaker growth in exports and high energy and raw material prices.
But it stuck to the view that the economy would eventually return to moderate growth.
The BOJ also said it would conduct monetary policy flexibly while examining risks in both directions -- a phrase the bank has been using since April to show it has no bias towards either raising or lowering rates.
BOJ Governor Masaaki Shirakawa will hold an embargoed news conference later on Tuesday, with his comments likely to come out some time after 4.15 p.m. (0715 GMT).
The BOJ will release its monthly economic report on Wednesday.
The nine-member board currently has two vacancies, including one for a deputy governor. (Reporting by Leika Kihara, Hideyuki Sano and Tetsushi Kajimoto)
