TOKYO (dpa-AFX) - Members of the Bank of Japan's monetary policy board said that the country's economy is showing signs of inconsistent improvement but continues to be threatened by COVID-19, minutes from the bank's meeting on March 18 and 19 revealed on Thursday.
The pandemic and its different variants continue to shroud the global economic recovery in uncertainty, the minutes said. The members said they will monitor the situation and will take additional easing measures if they're needed.
They also said they would continue the current level of easing until the price stability target of 2 percent is achieved.
At the meeting, the bank widened the range at which it permits the yields of government bonds to fluctuate and scrapped the average exchange traded fund buying target and also maintained its benchmark lending rate at -0.1 percent.
Also, the central bank decided to 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.
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