Asia-Pacific News

Japan upgrades economic view, holds rates

CNBC Mobile

Japan's central bank upgraded its assessment of the economy for the second straight month on Tuesday.

The Bank of Japan in its monthly review offered a slightly more optimistic outlook, saying the the world's second-largest economy has stopped deteriorating. It expected a turnaround in the second half of the fiscal year ending next March.

The central bank added that the outlook for the export-oriented economy largely hinged on a recovery in external demand, which remained weak.

The BOJ also kept rates on hold at 0.1 percent in a widely