“The Bank of Japan will discuss upgrading its assessment of the nation’s economy by using the word “recover” for the first time in more than two years, people familiar with the central bank’s discussions said.
The bank, which says the economy has been “picking up” in its current assessment, will consider stronger language at a two-day meeting ending July 11, according to the people, who asked not to be named because the talks were private. In 2010, the next step up was “starting to recover moderately.”
Raising the assessment for a seventh straight month could aid efforts by Prime Minister Shinzo Abe and central bank Governor Haruhiko Kuroda to boost confidence in a sustained Japanese recovery. Maintaining economic momentum would help Abe in an upper-house election due this month as he tries to consolidate support for the package of monetary and fiscal stimulus and business deregulation termed Abenomics….”
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