TOKYO (dpa-AFX) - Members of the Bank of Japan's monetary policy board agreed that the country's economy was continuing to pick up modestly in the aftermath of the Covid-19 pandemic, minutes from the bank's meeting on December 17 and 18 revealed on Tuesday.
The members added that they will continue to support easing until the inflation target of 2 percent has been reached, the minutes said, and they did not rule out the possibility of further easing in light of the economic stresses caused by the pandemic.
At the meeting, the bank's policy board extended the duration of emergency loan facility to September 2021.
The bank also removed upper limit of JPY 100 billion on funds against loans that financial institutions make on their own. The board voted 8-1 to retain the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.
Copyright RTT News/dpa-AFX