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TOKYO Dec 20 The Bank of Japan kept monetary
policy steady and offered a brighter view of the economy on
Tuesday, signalling its conviction that a weak yen and a rebound
in overseas demand will heighten prospects for a solid recovery.
"Japan's economy continues to recover moderately as a
trend," the central bank said in a statement announcing its
That was more upbeat than its assessment made on Nov. 1,
when it said that while Japan's economy continued to recover
moderately as a trend, some weaknesses were seen in exports and
In a widely expected move, the BOJ maintained the 0.1
percent interest it charges on a portion of excess reserves that
financial institutions park with the central bank.
At the two-day policy meeting that ended on Tuesday, it also
left unchanged its 10-year government bond yield target of
around zero percent.
BOJ Governor Haruhiko Kuroda will hold a news conference at
3:30 p.m. (0630 GMT) to explain the policy decision.
(Reporting by Leika Kihara, Stanley White, Tetsushi Kajimoto
and Minami Funakoshi; Editing by Chris Gallagher)