The Bank of Japan announces the beginning of a recovery

Bank of Japan

Bank of Japan

The Bank of Japan (BOJ)has announced Japan’s economic outlook is looking more positive and is emerging from its slowdown.

The growth in the global economy has helped the recovery of exports and production, the BOJ said.

The exports have been slowed down by the strong yen, and the consumption at home has followed.

On Monday, China overtook Japan for the second- largest economy in the world.

The BOJ also said on Tuesday that it was keeping its interest rates in the range of zero to 0.1 percent.

Analysts have suggested that the released statement indicates the Japanese Central bank will continue with the current policies that are in place in dealing with the economy.

“The Japanese economy is still in deflation.” said Yoshikiyo Shimamine of Dai-Ichi Life Research Institute in Tokyo.

“The BOJ has said it will keep to its accommodative monetary policy until Japan is out of this deflationary state once and for all.

“It will be a long time before interest rates are raised.”

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