BOJ holds steady despite bond turmoil, upgrades economic outlook
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The Bank of Japan kept policy steady on Wednesday despite concerns over recent volatility in bond market, saying growth is starting to pick up even as risks loomed from an uncertain global outlook.
The central bank upgraded its assessment of the economy, saying it "has started picking up," as Prime Minister Shinzo Abe's programme of aggressive fiscal and monetary stimulus has boosted sentiment and a weaker yen has halted a decline in exports.
As expected, the central bank stuck with April's massive quantitative easing, in which it pledged to end 15 years of deflation by doubling its Japanese government-bond holdings in two years as it expands the supply of money at an annual pace of 60 trillion ($583 billion) to 70 trillion yen.
BOJ Governor Haruhiko Kuroda will hold a news conference from 0630 GMT with his comments expected to come out any time after 0715 GMT.
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