Japan quietly recovers economically

Japanese Finance Minister Yoshihiko Noda said he expected the The Bank of Japan (BOJ) to take appropriate action as Japan's economy grows with an easing of the supply-side constraints caused by the March earthquake and tsunami. BOJ began its policy meeting on August 4 with plans to announce its decisions later in the day, but all expect money rate will continue to remain around 0-0.1 percent. The BOJ is concerned that volatility in the currency and financial markets could undermine corporate sentiment and slow economic activity in the country.

The head of the Japanese Finance said his country acted on its own to stem speculative and disorderly currency moves after BOJ expanded the 40 trillion yen ($503 billion) asset purchase program to 50 trillion yen, a 5 trillion yen increase to the asset purchase fund and another 5 trillion yen increase to the fixed-rate funds supplying operation for financial institutions.