TOKYO (dpa-AFX) - Members of the Bank of Japan's Monetary Policy Board said that the main risk to the country's growth is the future course of events in the Middle East, minutes from the bank's March 18-19 meeting revealed on Thursday.
The members noted that Japan's economy has recovered moderately, although some pockets of weakness remain. Underlying inflation is expected to increase gradually.
Also, industrial production and exports have been more or less steady, while corporate profits remain at a high level.
At the meeting, the BoJ maintained its interest rate at around 0.75 percent, citing risks to the inflation outlook - especially to crude oil - due to the ongoing conflict in the Middle East.
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