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BOJ policymakers saw prospects of quicker recovery in April - minutes

Wednesday, June 23, 2021
BOJ policymakers saw prospects of quicker recovery in April - minutes © Reuters. FILE PHOTO: A man wearing a protective mask walks past the headquarters of the Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020. REUTERS/Kim Kyung-Hoon/File Photo

By Leika Kihara

TOKYO (Reuters) - Bank of Japan board members agreed that the massive stimulus measures deployed by advanced nations may help quicken the pace of recovery in the Japanese and global economies, minutes of their April policy-setting meeting showed on Wednesday.

The upbeat assessment on the outlook reinforces market expectations that the central bank in the world's third-biggest economy will keep monetary settings unchanged for the time being, in the hope its ultra-loose policy and coronavirus pandemic-relief programmes will sustain a moderate recovery.

"There is uncertainty over the pace and effect of coronavirus vaccinations, which could heighten downward pressure on economic activity," board members were quoted in the minutes as saying.

"But there's a chance the stimulus measures taken by advanced nations could quicken the pace of recovery in domestic and overseas economies."

One of the nine board members said there was even a chance Japan's economic growth may be pushed up sharply as consumers boost demand after the pandemic subsides, the minutes showed.

At the April meeting, the BOJ kept monetary settings intact and projected that inflation will miss its 2% target well beyond Governor Haruhiko Kuroda's current term ending in 2023.

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01-05-2024 10:45:17 (UTC+7)

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 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 US Coffee C213.73↑ Sell
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 IBEX 3510,854.40Neutral
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 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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