Bank of Japan kept monetary policy unchanged slight increase in economic assessment

Reuters, Tokyo May 22 – Japan's central bank [microblogging] Friday to maintain its massive monetary stimulus unchanged and a slight increase in the assessment of economic conditions, gross domestic product (GDP) data is unaffected by the first quarter。The data showed that Japan's economic recovery is mixed。  The Bank of Japan also raised its assessment of private consumption and housing investment, highlighting the central bank believes that the economy has overcome the impact of the consumption tax increase last year brought。  Haruhiko Kuroda, president of the Bank of Japan will hold a press conference then, he may be stressed at the meeting, Japan is in the central bank on track to achieve the inflation target, suggesting that recent central bank will not ease monetary policy further。  As expected, the Bank of Japan continued commitment through the purchase of government bonds and risk assets increased by 80 trillion yen (661 billion dollars) per year monetary base。  "Japan's economy continues a moderate recovery," the central bank said in a statement resolution。This view is slightly more optimistic than last month, when the central bank said the economy continues a moderate recovery "trend"。  Bank of Japan also revised assessment of the property investment and private consumption, private consumption alleged "strong", while property investment "is bottoming out, there are some signs of recovery。"The central bank said last month that consumer strong, but somewhat weak, property investment seems to be bottoming out。  Data released Wednesday showed that Japan's January-March quarter GDP expanded at an annualized rate of growth of 2.4%, the fastest pace in a year, a sign that Japan is steadily out of the last recession。  But this growth was mainly driven by inventory, at the same time, exports, private consumption and capital spending growth is still very weak, so that analysts can not convince Japan's economic recovery is gaining momentum。  Analysts said signs of growth the Bank of Japan policy makers will probably still stick to their view that the Japanese economy benefited from the gradual rise in consumption and exports, is steadily recovering。  The central bank is expected to reiterate President Haruhiko Kuroda, Japan's inflation rate is expected in the first half of fiscal year 2016 to reach 2% target。  Market attention will assess how Kuroda GDP data, and how to defend his stimulus measures。In fact, the central bank's quantitative easing policy has led to a lot of criticism for failing to boost inflation expectations。  Bank of Japan last month to postpone the time to achieve the target price, to get some breathing space。But this also makes the central bank's credibility marked discount, since the implementation of the stimulus package in April 2013, the bank has vowed to meet its target price at "about two years' time。  Kuroda has said it is confident that the economic stimulus plan succeed so that gradually achieve the target price。But the market does not believe that a majority of analysts polled by Reuters visited bet the central bank will loosen policy further in October。(End) (Wang Hongying compiler / Yimao Lin / high Qi / Liu Xiuhong; Yang Wang reviser / Chenzong Qi / Gong aryl / ZHANG Di / Li Ting meter) (Chinese network Reuters)