TOKYO (dpa-AFX) - Members of the Bank of Japan's monetary policy board said that the country's economy continues to see sings of recovery, minutes from the board's meeting on April 26-27 revealed on Wednesday.
The members added that Covid-19 remains a drag on the recovery, although the economy is expected to see growing support from external demand.
To that end, the bank plans to keep its current stimulus measures in place at least until the 2 percent inflation target is achieved.
At the meeting the BoJ decided to keep its monetary stimulus unchanged, holding the benchmark interest rate steady at -0.1 percent. The bank also will continue to purchase Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent. It also downgraded its near-term inflation forecast and raised its growth projections despite the ongoing Covid restrictions.
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