The Bank of Japan is expected to maintain its massive stimulus and may extend a deadline for its pandemic-relief programme on Friday, in a sign that a fragile economy and tepid inflation will keep any exit from its ultra-easy policy a long way off.
The decision would come in the wake of hawkish signals from the U.S. Federal Reserve on Wednesday that heightened prospects of an earlier-than-expected interest rate hike.But with Japanese inflation well below his 2% target and the economy struggling for traction, Governor Haruhiko Kuroda will likely stress the BOJ's resolve to keep policy ultra-loose even as some central banks dial back stimulus.
The central bank may also decide to extend the September deadline for an asset-buying and loan programmes introduced last year to channel funds to pandemic-hit firms, sources have told Reuters. Japan's economy shrank an annualised 3.9% in the first quarter and is seen making only a modest rebound, if any, in the current quarter as anti-virus measures weigh on consumption.
A recent pick-up in the pace of COVID-19 vaccine inoculations has heightened hopes among policymakers that a rebound in consumption, combined with already robust exports, may accelerate the economic recovery in the latter half of this year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ECB to extend pandemic relief for banks by nine months: BloombergThe European Central bank is set to extend relief from a key capital requirement by nine months to keep credit flowing amid the coronavirus pandemic, Bloomberg reported on Wednesday, citing people familiar with the matter.
Read more »
Editorial: It's OK to keep your mask on even when you don't have toMany people in Asian societies long ago embraced masks as a courtesy to others when they are sick, and the U.S. should do so too. ... It also turns out that masks offer protection for the wearer as well, writes The Times Editorial Board. (latimesopinion)
Read more »
Navigating the Anxiety of Post-Pandemic Socializing7 ways to cope with social anxiety that may have developed during the pandemic
Read more »
Outrage over pandemic racism may boost Asian American voter turnout in NYCAhead of New York City's primaries, community leaders say outrage over anti-Asian racism and excitement about historic bids could boost participation.
Read more »
Vimeo CEO says momentum can continue past pandemic: ‘We’re looking to create a market that was never there’Vimeo Inc. benefited during the pandemic as more companies turned to its video-software offerings as a way to keep their businesses running smoothly, and its...
Read more »
Covid-19 Rent Breaks for Retailers Are Becoming the New NormRetail leases tying rent to a portion of sales look poised to outlast the pandemic
Read more »