On Wednesday, the Bank of Japan unanimously opted to leave its overnight call rate target at 0.1%, which was predicted. Following this, the bank hiked its economic assessment for the second straight month.

However, the central bank did not agree to end its special liquidity-boosting steps.

As per the predictions of some analysts, the bank will not continue buying corporate bonds and commercial paper outright as funding conditions improved, even when special steps are supposed to expire at the end of December. 

Last month, the BoJ had said that financial conditions were increasingly showing signs of improvement, which was maintained by it, in a statement released after its two-day regular policy meeting. 

Gov. Masaaki Shirakawa said, "Corporate-bond-issuance conditions are improving and the role of the BoJ's policy to buy corporate debt is fading."
 
The central bank had earlier forwarded signs of a recovery for Japanese economy and this month, the bank said that the economy has started to pick up. 
 
Naomi Fink, Japan strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. in Tokyo said, "By upgrading its economic assessment, the BoJ creates hope around the delivery of an uneventful exit from the unorthodox monetary-policy measures."