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BOJ Warned of Uncertainty over Recovery Prospects at Meeting

TOKYO, May 11 (Reuters) - Bank of Japan policymakers warned of uncertainties over the country’s economic recovery as pandemic curbs hurt service consumption, a summary of their opinions voiced at an April policy meeting showed on Tuesday.

At last month’s rate review, the central bank kept monetary policy steady and projected that the world’s third-largest economy would recover from the COVID-19 pandemic’s damage.

But many in the nine-member board highlighted risks clouding the outlook and stressed the need to focus on supporting the economy with ultra-loose monetary policy, according to the summary.

“Japan’s economy is recovering thanks to robust external demand. But we need to remain vigilant to downside risks from a resurgence in infections, given uncertainty over the pace of vaccine rollouts and their effect,” one member was quoted as saying.

(Reporting by Leika Kihara Editing by Chang-Ran Kim and Gerry Doyle)

Source: Reuters

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