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BOJ keeps policy steady, revises up view on consumption

Reuters  |  TOKYO 

TOKYO (Reuters) - The of kept monetary policy steady on Friday and offered a more upbeat view on private consumption and overseas economies, signalling its confidence that the recovery was gaining momentum.

"Private consumption has increased resilience against a background of steady improvement in the employment and income situation," the said in a statement announcing the policy decision.

In a widely expected move, the maintained the 0.1 percent interest it charges on a portion of the excess reserves that financial institutions park with the central

At the two-day policy meeting that ended on Friday, it also kept its yield target for 10-year Japanese government bonds around zero percent.

Governor Haruhiko Kuroda will hold a conference at 3:30 p.m. (0630 GMT) to explain the policy decision.

(Reporting by Leika Kihara, Stanley White, Tetsushi Kajimoto and Kaori Kaneko; Editing by Chris Gallagher)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)