BoJ left policy unchanged, as expected, with an 8-1 vote BoJ left policy unchanged, as expected, with an 8-1 vote. The Bank will continue to purchase bonds so that the monetary base will be increased at an annual pace of JPY 80 tln. The economy is seen to be recovering modestly, with a steady improvement in the employment and income situation. Private consumption has been resilient and housing investment has started to pick up. The annual pace of inflation is expected to be about 0% due to weaker energy prices.