The Bank of Japan maintained its ultra-loose monetary policy on Thursday and reiterated that the economy was recovering moderately, in a nod to signs of an increase in exports that is key to sustaining the momentum generated by Prime Minister Shinzo Abe’s stimulus policies. “Japan’s economy is recovering moderately,” the Bank of Japan said in a statement announcing the decision. Weak exports have been a major concern for Bank of Japan officials, who hope the global economy will pick up in time to make up for the expected downturn in household spending after the tax increase.
