9/29, 3:19 AM (Source: TeleTrader)
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BoJ sees negative inflation for while, economy picking up moderately

The Japanese economy is recovering from the coronavirus crisis at a moderate pace, the Bank of Japan (BoJ) said on Tuesday, adding it is not expected to completely bounce back until the pandemic is contained. Inflation is expected to remain negative "for the time being," the central bank noted, adding "it is expected to turn positive and then increase gradually with the economy improving."

"The pace of improvement in Japan's economic developments seems to be somewhat slower than that observed at the time of the previous meeting," the BoJ said in the Summary of Opinions at the Monetary Policy Meeting.

When it comes to potential adjustments of the monetary policy amid the crisis, the bank asserted "it is appropriate for the Bank to maintain the current monetary policy for the time being and, as before, take additional measures if necessary while closely monitoring the impact of COVID-19."

Breaking the News / GA