BoJ Minutes: Recovery Continues For Japan Economy
(RTTNews) - Members of the Bank of Japan's Monetary Policy Board said that Japan's economy has recovered moderately, although some weakness remains, minutes from the central bank's meeting on Dec. 17-18 revealed on Wednesday.
Japan's economic growth is likely to accelerate, especially as overseas economies continue to grow, the minutes showed, although risks include developments in overseas economies and activity in the foreign exchange markets,
Underlying inflation has continued to rise moderately, the members noted.
At the meeting, the BoJ raised its benchmark rate by a quarter-point as inflation remains stubbornly above the target. The policy board decided to hike the uncollateralized overnight call rate to around 0.75 percent from around 0.5 percent. Previously, the BoJ had lifted the benchmark rate by 25 basis points in January.
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