BOJ Warned of Uncertainty over Recovery Prospects at Meeting

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

At last months rate review, the central bank kept monetary policy steady and projected that the worlds thirdlargest economy would recover from the COVID19 pandemics damage.

But many in the ninemember board highlighted risks clouding the outlook and stressed the need to focus on supporting the economy with ultraloose monetary policy, according to the summary.

Japans 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 ChangRan Kim and Gerry Doyle

Source Reuters

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