BOJ upbeat about economy but cautious on monetary policy

Tokyo

THE Bank of Japan (BOJ) on Friday reported modestly rising optimism over the state of the Japanese economy, and said it would stay the course on the currently super-easy monetary stance, aimed at cementing a continued recovery.

The central bank upgraded its assessment of domestic private consumption and of export growth, indicating confidence that the export-driven economic recovery - now five quarters long - is broadening and gaining momentum.