MW: Bank of Japan holds pat; slightly cuts output view
By Lisa Twaronite
TOKYO (MarketWatch) -- The Bank of Japan held pat on monetary policy as widely expected Tuesday and maintained its overall assessment of the economy, saying it's showing signs of a moderate recovery. But it tweaked down its view on output, saying it's recently declined slightly. The BOJ's vote to keep interest rates unchanged in a range of zero to 0.1% was unanimous. The central bank said in a statement it will steadily purchase various assets and provide longer-term funds through its 35 trillion yen ($418 billion) asset-buying fund, to ensure that the effects of its monetary easing permeate through the economy. BOJ Gov. Masaaki Shirakawa will hold a news conference later Tuesday.
