Bank of Japan upgrades economic outlook

By DPA,

Tokyo : Japan’s central bank Tuesday upgraded the nation’s economic assessment for the second month in a row but maintained its key short-term interest rate steady.

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The Bank of Japan decided to hold the rate at 0.1 percent in a unanimous vote at its two-day policy board meeting.

As imports and industrial output begin to show recovery, the bank said Japan’s economy “is likely to show clearer evidence of levelling out over time” in the coming months.

The bank last month upgraded its economic overview for the first time in nearly three years.