Japan central bank says monetary-easing policy working
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Tokyo - Japan's central bank said it would maintain its aggressive monetary-easing policy as it reported Wednesday that the economy has begun to pick up.
The assessment was more upbeat than a report in April, when the Bank of Japan said the economy had finished weakening. It also marked the fifth consecutive month of improving economic forecasts, according to Kyodo news agency.
The bank said it would increase the monetary base - the amount of currency circulating in public and commercial banks reserves - by about 60 to 70 trillion yen (590 to 680 billion dollars) each year. The aggressive policy is aimed at ending years of deflation and slack economic performance.//DPA
