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Business & Finance

Unfazed by pandemic, Bank of Japan to keep economic recovery view

  • The view would reflect a growing conviction within the central bank that the world's third-largest economy hit bottom in April or May.
  • "There aren't enough factors that would force the BOJ to alter its view the economy will emerge from the doldrums
Published June 5, 2020
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TOKYO: The Bank of Japan is likely to maintain its projection that the economy will gradually recover in the latter half of this year, four sources familiar with its thinking said, heightening the chance it will forgo bold monetary easing steps at this month's rate review.

The view would reflect a growing conviction within the central bank that the world's third-largest economy hit bottom in April or May, when lockdown measures aimed at containing the coronavirus pandemic forced households to stay home and businesses to close.

"There aren't enough factors that would force the BOJ to alter its view the economy will emerge from the doldrums in latter half of this year as the pandemic subsides," one of the sources said, a view echoed by three other sources.

The BOJ's next rate review will be on June 15-16.

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