The Bank of Japan released its minutes concerning the meeting held on December 19-20 when the bank decided to keep interest rates steady at 0.10%. The bank ensured the economy is picking up, while industrial production and exports continued showing improvements.

The BOJ board members said that the economy needs to be monitored closely, while the added that weak demand is the reason behind deflation, worth mentioning that the BOJ said the economy is in deflation last month.