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The Bank of Japan maintained its monetary policy unchanged on Friday and downgraded its optimistic view that export and manufacturing output would support economic growth, acknowledging that increased overseas risks could derail Japan's fragile economic recovery.
Last month, manufacturing across the globe braked sharply as demand was hurt by trade wars between China and the United States, slowing global economic growth and political uncertainty on the eve of Britain's exit from Europe.
The Bank of Japan acknowledged the increased risk and downgraded its assessment of the overseas economy, calling it a sign of slowdown. The central bank also downgraded its assessment of exports and output.
Bank of Japan President Yoshihiko Kuroda acknowledged the challenges facing the economy, but did not say whether there would be more stimulus measures.
"It is true that Japan's exports and output are being affected by the slowdown in overseas growth," Toshihiko Kuroda said at a press conference after the central bank meeting. "On the other hand, domestic demand continues to grow. Therefore, we believe that the basic view of positive and moderate economic expansion remains unchanged.
He said that although it may take more time to reach the central bank's price target, most members believed that "patiently maintaining" the current stimulus measures was the most appropriate approach based on some improvement in the output gap.

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