HONG KONG (MarketWatch) -- The Bank of Japan on Thursday left its policy interest rate unchanged in the current range of 0% to 0.1% by a unanimous vote, noting that the economy is expected to chart a moderate recovery path despite a high degree of uncertainty in the global outlook. In a statement issued at the end of a two-day meeting, the central bank said the year-on-year change in consumer prices isn't expected to rise or fall for the time being. The BOJ reaffirmed its commitment to steadily increasing the size of its asset purchase program, but didn't announce any immediate increase in the overall size of the program on Thursday. The yen dropped sharply immediately after the decision but quickly recovered most of those losses; the dollar /quotes/zigman/4868099/sampled USDJPY +0.4567% was buying 79.60 yen from 79.53 yen before the BOJ announcement.
Read the full story:
Bank of Japan affirms recovery, stands pat