The economy is slowing due to weakness in housing investment and cautious corporate sentiment, the central bank chief said Thursday, hours after leaving its benchmark interest rate at 0.5 percent.
"The economic recovery cycle led by production, income and expenditure remains intact. But a slowdown in the Japanese economy is happening now," Bank of Japan Gov. Toshihiko Fukui told reporters.
Fukui's remarks came after the BOJ Policy Board voted 9-0 to leave the unsecured overnight call rate unchanged. It was the first unanimous vote since June.