The Bank of Japan’s Policy Board has elected to retain the country’s interest rate at between 0% and 0.1%.
The central bank has reported that the Japanese economy continues to recover, but momentum appears to be fading with exports flat and corporate profits slowing in growth.
Japan continues to see inflation falling, although the rate of decline continues to decrease.
The Bank of Japan has begun to purchase assets of all kinds involved in its Asset Purchase Programme, which is worth a total of 5 trillion yen.
The quantitative easing scheme was decided upon in October, and is 35 trillion yen large in total, with one-seventh of that coming from asset purchases.
At the time the prospect of fresh quantitative easing (effectively printing money) was being discussed as a real possibility in the UK, but stronger than expected third quarter GDP figures have put such a possibility on the backburner for now.