BOJ Keeps Policy Steady, Lifts Assessment Of Exports, Output

TOKYO, JAPAN - FEB. 18: The Bank of Japan decided Wednesday to maintain its ultra-easy monetary policy and raised its assessment of some economic conditions amid growing concern lower oil prices could complicate its efforts to beat prolonged deflation. "There is no need to consider something additional immediately, as I don't think there is any change emerging in the price trend at the moment," Governor Haruhiko Kuroda said at a press conference held after the central bank's two-day policy meeting from Tuesday. The bank remains committed to "adjusting policy without hesitation" when it sees the price trend changing to achieve its 2 percent inflation target in the period centering on fiscal 2015, he added. The BOJ's Policy Board voted to keep its key policy of increasing base money at an annual pace of about 80 trillion yen through massive asset purchases, while it maintained its assessment of the overall economy that "Japan's economy has continued its moderate recovery trend." The latest decision comes at a time when the recent drop in oil prices is slowing price increases, leading most economists to expect the BOJ will have no choice but to take additional stimulus measures sooner or later. Pressure from the adverse effect of the tax increase on consumption spending has been receding, as seen in improving demand for durable goods, Kuroda said.