The Japanese central bank expects the economy to recover during the middle of the current fiscal year

Members of the monetary policy board of the Central Bank of Japan said that the country’s economy is growing.

According to the minutes of the last board meeting held on July 15 and 16 and published today, despite the rise in raw material prices, board members expect an economic recovery by the middle of the current fiscal year, which began last April, despite the continuing uncertainty, especially in foreign markets.

The members of the board said that they intend to maintain the current flexible monetary policy until the inflation rate reaches the bank’s target range of 2%.

During the meeting, the board members unanimously voted in favor of maintaining the key interest rate at a negative level of 0.1% on current accounts held by financial institutions with the central bank.

The board also decided to continue the purchase of any required amount of Japanese Treasury bonds without setting a ceiling so that the yield rate on Japanese decimal Treasuries remains within zero percent.