Bank of Japan remains optimistic despite new pandemic curbs’ impact on economy

13.07.2021 - Evdokimov Roman
Bank of Japan remains optimistic despite new pandemic curbs’ impact on economy

The Bank of Japan is set to offer a cautiously optimistic outlook of the economy in new quarterly projections on Friday. Japan grapples anew with the COVID-19 pandemic, with state of emergency curbs hurting consumption and growth greatly dependent on overseas demand.

The central bank will also provide details on its plan to boost funding for the country’s efforts to fight climate change following economic fallout driven by climate risks.

The BOJ is expected to maintain its yield curve control (YCC) targets at -0.1% for short-term interest rates and 0% for 10-year bond yields.

Some sources said the board will slash its current 4.0% forecast on economic growth for the fiscal year ending in March 2022.

However, the BOJ remains firm on the economy’s moderate recovery outlook, even considering a slight upgrade for next fiscal year’s growth forecast. The board believes steady vaccinations will improve demand.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?