Bank of Japan Became More Confident in Economy

The minutes of the Bank of Japan April meeting showed that the central bank became more confident in the economy. At the meeting of the BoJ, which was held on April 26-27, monetary policy remained unchanged. Politicians also acknowledged that the inflation target of 2% is still far away.

Representatives of the Bank of Japan expressed more optimism about exports and industrial production, but remain cautious about inflationary expectations. The BOJ has reduced the pace of government bond purchases in recent months, which if maintained would lead to an annual increase of only 60 trillion yen.