Japanese Economy Showing Signs Of Picking Up: BoJ
2011-06-16 11:47:00
Bank of Japan (BoJ) on Wednesday said that the economy is showing some signs of growth, upgrading its assessment for the first time since February.
Still, the economy is facing downward pressure, mainly on the production side, under the impact of March's deadly earthquake, BoJ said in its monthly report.
According to the central bank, production and private demand are showing signs of picking up with supply constraints starting to ease and household and business sentiment improving.
The report said that in the coming months, the economy is likely to see a growth in exports, investment, private consumption and household sentiment.
On Tuesday, the bank decided to expand the lending facility, introduced last summer, to support recovery of the ailing economy. The bank also maintained its monetary policy stance by keeping the key interest rate at near zero, as widely expected.