BANK OF JAPAN TO STAY THE COURSE TO SLAY DEFLATION

TOKYO - As expected, the Bank of Japan is to maintain its aggressive monetary easing policy, saying the economy “is starting to recover moderately”. It is the first time the BoJ has made such a positive evaluation since 2011. Its aim is to end deflation, and it has adopted an inflation target of 2%. In April, the BoJ launched an aggressive monetary policy easing campaign to double the monetary base in two years, equivalent to US$700 billion per year.