BOJ Keeps Monetary Policy Steady, Expresses Optimism About Economic Recovery

At its latest meeting earlier today, the Bank of Japan (BOJ) chose to keep its monetary policy unchanged amid hopes for improvement in

BOJ Keeps Monetary Policy Steady, Expresses Optimism About Economic Recovery

At its latest meeting earlier today, the Bank of Japan (BOJ) chose to keep its monetary policy unchanged amid hopes for improvement in economic conditions in the coming months. The central bank also hinted that additional stimulus may not be required in the near future to offset the economic fallout from the coronavirus pandemic.

However, Japan’s economy continues to face several downside risks, mainly due to the pandemic, and BOJ has confirmed its readiness to tackle any such challenges with additional monetary support if the economy is further impacted. For now, the BOJ has held rates steady at -0.1% and targets 10-year government bonds yields to be held around 0.

In its official statement, the central bank notes, “Japan’s economy has started to pick up with economic activity resuming gradually, although it has remained in a severe situation due to the impact of the novel coronavirus (COVID-19) at home and abroad. Overseas economies also have started to pick up from a state of significant depression. In this situation, exports and industrial production have turned to a pick-up.”

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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