Bank of Japan launches policy review as deflation worsens
BoJ considers further monetary easing and extends special loan programmes
The Bank of Japan (BoJ) has launched a review of its ultra-easy monetary policy for the first time since 2016, as data showed inflation might take even longer to hit the central bank’s 2% target.
Economic activity and prices have remained under prolonged downward pressure due to the impact of Covid-19. In this situation, there is a need to support the economy and thereby achieve the price stability target of 2%, the BoJ said in a statement on December 18.
Governor Haruhiko Kuroda announced the
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