Japan consumer prices stable

Tokyo - The Bank of Japan (BoJ) said on Tuesday the year-on-year rate of increase in the consumer price index is likely to be about 0% "for the time being" due to falling crude oil prices.

However, "inflation expectations appear to be rising on the whole from a somewhat longer-term perspective," the central bank said in a statement issued after a two-day policy meeting.

Despite growing deflationary pressure, the bank decided to maintain its aggressive monetary easing policy.