TOKYO (dpa-AFX) - Members of the Bank of Japan's monetary policy meeting said that the country's economy is starting to show signs of recovery following the lengthy Covid-19 shutdown, minutes from the central bank's meeting on October 28 and 29 revealed on Wednesday.
Levels of employment and income remain at low levels as a result of the shutdown, the minutes showed, so further coordination of fiscal and monetary policy may be necessary.
The country also slipped back into deflation after finally shaking off more than a decade's worth of it not that long ago.
At the meeting, the BoJ maintained its monetary policy easing as widely expected, holding its benchmark interest rate at -0.1 percent. The bank will continue to purchase necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent. It also raised its growth projections.
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