Bank of Japan to Continue Massive Stimulus Program

Still expecting a moderate recovery

The Bank of Japan on Thursday decided to keep its massive stimulus program unchanged while also retaining its outlook of a moderate economic recovery.

At the end of a two-day meeting of the nine-member Policy Board, led by Governor Haruhiko Kuroda, the central bank said it will keep the target for the monetary base expansion at an annual pace of JPY 60-70 trillion.