Bank of Japan Monthly Report, July 2006

The Bank of Japan published the English version of its July 2006 monthly report on Wednesday 19 July. In the report the BOJ upgraded its wording on the assessment of the nation's economy describing it as "expanding moderately."

"Japan's economy is expanding moderately," the central bank said in the July report. In the June report, it said, "Japan's economy continues to recover steadily."

The BOJ also said in the latest report, "The conditions of persistent excess supply have been dispersed, and

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