TOKYO (dpa-AFX) - Members of the Bank of Japan's Monetary Policy Board said that the country's economy continues to expand at a moderate pace, minutes from the central bank's April 24-25 meeting revealed on Tuesday.
They added that while inflation is still weaker than expected, it is on pace to increase gradually. The bank will continue to provide stimulus by expanding the monetary base until the annual inflation goal of 2 percent is reached.
At the meeting, the policy board voted 7-2 to maintain interest rate at -0.1 percent on current accounts that financial institutions maintain at the bank. It also said it will purchase government bonds so that the yield of 10-year JGBs will remain at around zero percent.
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