Bank of Japan policy meeting over – statement out now
- maintains short-term interest rate target at -0.1%
- maintains 10-year jgb yield target around 0%
- Japan’s economy is in increasingly severe state
- economy likely to remain in severe state for time being due to coronavirus pandemic
- economy likely improve as fallout from coronavirus pandemic subsides
- will take additional monetary easing steps without hesitation if needed with close eye on impact of coronavirus pandemic
- size of money pumped out via market operations, lending facilities to combat pandemic likely to increase from current 75 trln yen
- size of money pumped out via market operations, lending facilities to combat pandemic likely to increase to around 110 trln yen
- says exports, output falling sharply
- says pace of increase in capex is clearly slowing
- says some weak movements seen in job, income conditions
- says consumption falling sharply
- says consumer inflation hovering around 0%