After April 2022, the Bank of Japan (BOJ) will gradually slow the pace of commercial paper and corporate bond buying to levels before the pandemic, the central bank said in its monetary policy statement.
Will end in March 2022 increased purchases of corporate bonds, commercial paper.
Ready to take additional easing steps as needed with eye on pandemic impact on economy.
Will extend by 6 months portion of pandemic-relief funding under which BOJ offers funds against non-govt supported loans financial institutions make to smaller firms.
For loans BOJ makes against govt-supported bank lending, BOJ will extend deadline by 6 months under revised terms.
Japan's economy has picked up as a trend, though it has remained in severe situation due to COVID-19 impact at home and abroad.
Year-on-year rate in consumer price index excluding fresh food is likely to increase moderately in positive territory in short run, reflecting rise in energy prices.
Japan's economy likely to recover as downward pressure from COVID-19 on services consumption and effects of supply-side constraints wane.
Year-on-year rate of change in consumer price index excluding fresh food projected to increase gradually as a trend.
Attention should be paid to risk that effects of supply-side constraints seen in some areas will be amplified or prolonged.
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