BoJ Minutes: Japan Economy Recovering But Faces Downside Risks

(RTTNews) - Members of the Bank of Japan's Monetary Policy Meeting agreed that the country was continuing to see economic recovery, although some downside risks remain, minutes from the central bank's monetary policy meeting on September 17-18 revealed on Wednesday.

It is unclear how the actions and policies of some foreign nations will affect Japan, they added, which has caused inflation expectations to rise moderately.

At the meeting, the Japanese central bank left its key interest rate unchanged at 0.5 percent, as expected, but surprised markets with a decision to reduce the holdings of its massive stock of exchange-traded funds, suggesting that the monetary policy normalization is underway.