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Bank of Japan keeps hefty stimulus in place

The Bank of Japan on Thursday kept its monetary policy unchanged and repeated its view that the economy is in recovery-mode.

Aggressive monetary stimulus from the BOJ, unveiled in April, has helped push the yen lower and boost economic growth in the world's third biggest economy.

Data on Wednesday, for instance, showed that Japanese exports grew a stronger-than-expected 18.6 percent in October from a year before.

(Read more: More signs of Japan rebound: Exports soar)

"The BOJ meeting – no surprises there and no surprises were expected," Ed Rogers, CEO of Rogers Investment Advisors, told CNBC Asia's "Cash Flow."

Koichi Kamoshida - Getty Images

"We think the policy makers feel very comfortable right now and are very confident. We think we will see more accommodative policy if needed but don't expect any dramatic changes any time soon," he added.

No change in monetary policy following the BOJ's two-day meeting had been anticipated by analysts.

The central bank maintained the policy frame-work it set up in April, when it said it would increase Japan's base money, the cash and deposits at the central bank, at an annual pace of 60 trillion yen ($597 billion) to 70 trillion yen, to boost inflation.

(Watch now: Jimmy Choo: Japan is our fastest growing market)

Focus may now turn to BOJ Governor Haruhiko Kuroda's post-meeting news conference for clues on the outlook for monetary policy in Japan.

The BOJ meeting ends against a backdrop of renewed jitters about a tapering is U.S. monetary stimulus following the release of minutes from the Federal Reserve's last meeting and talk about a cut in euro zone deposit rates into negative territory.

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