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6/23, 2:06 AM (Source: TeleTrader)
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BOJ minutes: Inflation growth to lack strength

Bank of Japan's April meeting minutes published on Wednesday revealed that members agreed that the pick-up in inflation will likely lack strength and that the price pressure impacts of cellphone fee cuts are temporary.

During the meeting, a number of members also pointed out at the beginning of an optimistic trend where rising domestic incomes lead to higher spending. They also noted that pandemic relief measures adopted by foreign nations may have a positive effect on Japan's economic recovery and the global economies as a whole.

BOJ members shared the uncertainty of the Bank's projection that Japan's growth potential and financial intermediation won't be hurt by the COVID-19 consequences. Several officials expressed doubts regarding the efficiency of the current pace of vaccination and the effect it may have on economic activity.

Breaking the News / LH