5/11/2021, 2:34 AM (Source: TeleTrader)
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BoJ: Economy to recover mainly by external demand

The Bank of Japan stated that the country's economy is likely to recover, mainly led by external demand, but the outlook still remains uncertain, with the primary contributing factors being the pandemic and vaccine rollout.

According to the bank's April policy meeting summary, risks to economic recovery are "skewed to the downside" as the situation regarding the pandemic remains in question. However, as the impact of the pandemic wanes Japan's recovery is expected to continue, following global economic recovery levels which, despite uneven developments and differences in policy responses, is on an upward trend.

The central bank also stated that it was "necessary to persistently continue to provide support with both monetary and fiscal policies" in order to normalize economic activity, especially when it comes to maintaining "stability in the markets through monetary easing," adding that "vaccinations will serve as the best economic measure until COVID-19 subsides."

Baha Breaking the News (BBN) / OL