TOKYO, Sept 5 The Bank of Japan kept monetary
policy steady on Thursday and revised up its assessment of the
economy, encouraged by growing signs the benefits of its
stimulus policy are broadening.
As widely expected, the BOJ voted unanimously to maintain
its pledge of increasing base money, or cash and deposits at the
central bank, at an annual pace of 60 trillion yen ($602
billion) to 70 trillion yen.
"Japan's economy is recovering moderately," the BOJ said in
a statement, revising up its assessment of the economy. Last
month, it said Japan's economy is starting to recover
BOJ board member Takahide Kiuchi proposed that the central
bank make its 2 percent inflation target a medium- to long-term
goal, and commit to intensive easing in the next two years. This
would differ from the BOJ's current commitment to hit its
inflation target in roughly two years.
Kiuchi's proposal was rejected in an 8-1 vote.
BOJ Governor Haruhiko Kuroda will hold an embargoed news
conference from 3:30 p.m. (0630 GMT) with his comments expected
to come out any time after 4:15 p.m. (0715 GMT).
The BOJ stunned markets by offering an intense burst of
monetary stimulus in April, pledging to double the supply of
money in two years by boosting purchases of government bonds and