The Bank of Japan is to press ahead with its massive monetary stimulus programme, on the basis that growth in the economy and consumer prices in the country remain on track.
Bank Governor Haruhiko Kuroda said there was no need to adjust Japan’s monetary policy for now and expressed confidence weakness in exports is temporary and due to a slowdown in Asian economies and other emerging markets.
In response the yen edged up against the dollar and the euro.
The Bank of Japan is to pump the equivalent of between 425 and 500 million euros into the economy this year.
Bank officials said they are confident the economy won’t be too badly slowed by a sales tax increase from five to eight percent at the start of April.