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MNI BRIEF: BOJ May Soon Remove “Covid-19 Impact” From Guidance

(MNI) Tokyo
TOKYO (MNI)

The BOJ could wait until the July meeting when it updates the Outlook.

PolicyBellFiscalGovernment sectorAPACBank of Japan (BOJ) Market NewsJapanExclusiveCentral BankBank of JapanBriefPolitical RiskStoryPolicy StoryRegion

The government’s decision to reopen to international tourists in June and a recovering economy could pave the way for the Bank of Japan to soon consider removing “while closely monitoring the impact of Covid-19” from forward guidance, MNI understands.

Bank officials will carefully assess economic activity linked to infections, mainly private consumption, and may examine a change as early as the June 16-17 policy-setting meeting. But the BOJ may wait until July, when it upgrades its medium-term economic growth and inflation view in the quarterly Outlook Report, before announcing the change as it reviews the overall economic situation, (See MNI INSIGHT:Weak Q2 GDP Would Reinforce BOJ Easy Policy Stance.)

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The government’s decision to reopen to international tourists in June and a recovering economy could pave the way for the Bank of Japan to soon consider removing “while closely monitoring the impact of Covid-19” from forward guidance, MNI understands.

Bank officials will carefully assess economic activity linked to infections, mainly private consumption, and may examine a change as early as the June 16-17 policy-setting meeting. But the BOJ may wait until July, when it upgrades its medium-term economic growth and inflation view in the quarterly Outlook Report, before announcing the change as it reviews the overall economic situation, (See MNI INSIGHT:Weak Q2 GDP Would Reinforce BOJ Easy Policy Stance.)

Keep reading...Show less