Bank of Japan lifts next year's growth forecast, saves ammunition as virus risks linger

21 January 2021

The Bank of Japan kept monetary policy steady on Thursday and upgraded its economic forecast for next fiscal year. As widely expected, the BOJ maintained its targets under yield curve control (YCC) at -0.1% for short-term interest rates and around 0% for 10-year bond yields. In fresh quarterly projections, the BOJ upgraded next fiscal year’s growth forecast to a 3.9% expansion from a 3.6% gain seen three months ago based on hopes the government’s huge spending package will soften the blow from the pandemic.
 
Source: Reuters
Post by : Republic of Turkey Ministry of Trade