Tokyo — The Bank of Japan (BoJ) kept monetary policy steady and roughly maintained its ambitious price forecasts on Tuesday, pointing to signs of growing strength in the economy that policy makers hope will accelerate inflation towards its elusive 2% target. Board newcomer Goushi Kataoka made no proposal on additional easing, defying market expectations he might do so after dissenting to last month’s BoJ decision to keep policy steady. But he said the central bank should make clear its resolve to expand stimulus if domestic factors delayed achievement of its 2% inflation target. He also said the BoJ should commit, via its bond purchases, to keeping the yield on longer-term bonds low.
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