TOKYO, June 15 (Reuters) – The Bank of Japan kept monetary
policy unchanged on Friday, saving its financial firepower in
case Greek elections over the weekend ignite fresh market
turmoil that threatens Japan’s recovery prospects.
The BOJ revised up its assessment of Japan’s economy to say
it has started picking up moderately. But the central bank
warned that global economic uncertainty remains high and that
markets remain jittery due to worries over Europe’s sovereign
debt problems.
“The BOJ will do its utmost to ensure the stability of
Japan’s financial system, while paying particular attention to
developments in global financial markets,” the central bank said
in a statement.
As widely expected, the BOJ maintained its key policy rate
in a range of zero to 0.1 percent by a unanimous vote, and held
off on easing monetary policy further.
BOJ Governor Masaaki Shirakawa will hold an embargoed news
conference later on Friday with his comments expected to come
out sometime after 4:15 p.m. (0715 GMT).
The BOJ eased policy in February and April via increases in
its asset-buying programme in largely symbolic moves to show its
determination to achieve its 1 percent inflation target.
