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MNI BRIEF: BOJ Keeps Recovery View, Ups Private Consumption

(MNI) Tokyo
TOKYO (MNI)

The Bank of Japan board on Friday left its overall economic assessment, saying the "economy has picked up as a trend, although some weakness has been seen in part, mainly due to the impact of Covid-19 and the rise in commodity prices.”

“Japan’s economy is likely to recover, with the impact of Covid-19 and supply-side constrains waning,” the BOJ said, leaving the view unchanged. But the BOJ upgraded its assessment on private consumption in the wake of a recent recovery. “Private consumption has picked up, particularly for services consumption, with the impact of Covid-19 waning.”

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The Bank of Japan board on Friday left its overall economic assessment, saying the "economy has picked up as a trend, although some weakness has been seen in part, mainly due to the impact of Covid-19 and the rise in commodity prices.”

“Japan’s economy is likely to recover, with the impact of Covid-19 and supply-side constrains waning,” the BOJ said, leaving the view unchanged. But the BOJ upgraded its assessment on private consumption in the wake of a recent recovery. “Private consumption has picked up, particularly for services consumption, with the impact of Covid-19 waning.”

Keep reading...Show less