Friday, February 15, 2013
DJ: BOJ Raises Econ Assessment For 2nd Straight Month In Feb
TOKYO--The Bank of Japan raised its assessment of the economy in February for the second month in a row, indicating that the economy is nearing its bottom.
Japan's economy "appears to have stopped weakening," the BOJ said in its monthly report for February.
The previous month the BOJ said the economy remained relatively weak.
The raising of the assessment is the first upgrade for a second-straight month since August 2011.
The central bank also raised its view on overseas economies as well as its assessment of exports and industrial production.
The bank also said domestic corporate goods prices are rising moderately, reflecting the yen's fall, adding that these prices are expected to continue their ascent for a while.
Looking ahead, Japan's economy is expected to stay more or less flat for a while and then return to a moderate growth path as the effects of the government's stimulus measures take hold and overseas economies gradually emerge from their slump.
The BOJ Thursday decided to keep its key monetary policy unchanged at its policy board meeting Thursday.