BoJ to keep monetary policy on hold as economy improves

Since the BOJ's last meeting there have been improvements in the economy, including the first rise in core consumer prices in more than a year, the first increase in summer bonuses in three years and a decline in the jobless rate to a 4-1/2-year low.

The BOJ is widely expected to keep monetary policy steady by maintaining its pledge of increasing base money, or cash and deposits with the central bank, at an annual pace of 60 trillion to 70 trillion yen ($600 billion-$700 billion).

Faced with inconclusive data, some policymakers may reserve judgment on their outlook for the economy until the release next week of April-June gross domestic product and machinery orders, which is a leading indicator of business spending.

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