TOKYO (Thomson Financial) - The Bank of Japan (BoJ) left its economic assessment for the month of February unchanged, saying the world's second-largest economy is expanding moderately although the pace of growth appears to be slowing.
"Japan's economy is expanding moderately as a trend, although the pace of growth seems to be slowing mainly due to the drop in housing investment," the Bank of Japan said Friday in its latest monthly report.
The Japanese central bank downgraded its monthly economic assessment in December for the first time in four years.
Earlier today, the central bank's nine-member policy board voted unanimously to maintain the overnight call rate target at 0.5 percent, as widely expected by the market.
The board meets next on March 6-7.
(1 US dollar = 108.05 yen)
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