Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

BOJ will not hesitate to ease further if needed, says deputy governor

06/08/2021 | 08:44am EDT
FILE PHOTO: Bank of Japan Deputy Governor Masayoshi Amamiya speaks during a Reuters Newsmaker event in Tokyo

TOKYO (Reuters) - The Bank of Japan will not hesitate to ease monetary policy further if needed, its deputy governor Masayoshi Amamiya said, warning that the country's budding economic recovery remains vulnerable to damage from the coronavirus pandemic.

The central bank will also consider extending a September deadline for its pandemic-relief programmes after scrutinising economic and financial conditions, he said.

"Japan's economy is headed for a recovery. But consumers will likely remain cautious about spending as curbs to prevent the spread of the COVID-19 pandemic continues," Amamiya said in an online seminar on Tuesday.

"We'll extend the (relief programme) if needed. Depending on the situation, we also won't hesitate taking additional monetary easing steps as needed," he added.

On climate change, Amamiya said it was an issue that has a huge impact on Japan's economy and financial system.

"We will consider what we can do as a central bank within our mandate of achieving price and financial stability," he said.

The BOJ last year ramped up asset purchases and put in place a loan programme aimed at channeling money to cash-strapped small firms to cushion the blow from the health crisis.

With the pandemic still weighing on Japan's recovery, BOJ officials have signalled their readiness to extend the programme and reach a decision either at its rate review next week or in July.

(Reporting by Leika Kihara; Editing by Andrew Heavens and Raissa Kasolowsky)

By Leika Kihara

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.16% 81.415 Delayed Quote.2.35%
BANK OF JAPAN 3.51% 29500 End-of-day quote.19.29%
BRITISH POUND / JAPANESE YEN (GBP/JPY) 0.19% 151.985 Delayed Quote.7.52%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.35% 87.964 Delayed Quote.8.07%
EURO / JAPANESE YEN (EUR/JPY) 0.36% 130.126 Delayed Quote.2.93%
INDIAN RUPEE / JAPANESE YEN (INR/JPY) 0.00% 1.485443 Delayed Quote.4.70%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.27% 77.082 Delayed Quote.3.72%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.34% 110.51 Delayed Quote.6.74%
Latest news "Economy & Forex"
09:30aIraq in fuel deal with Lebanon to boost its faltering power supply
09:26aVatican reveals property holdings for first time in transparency drive
08:48aLeaders of Uzbekistan and Russia discuss cooperation and regional interaction issues
08:48aGOVERNMENT OF REPUBLIC OF UZBEKISTAN : Presidents of Uzbekistan and Kyrgyzstan hold a phone call
08:47aTESLA : GM, Cruise sue Ford to block use of 'BlueCruise' name for hands-free driving
08:41aVietnam reports record 7,968 coronavirus cases on Saturday
08:18aPRESS STATEMENT : Developments in the Foreign Exchange Market July 2021
07:48aChina confirms ban on for-profit tutoring in core school subjects - Xinhua
04:18a"Inflation rates going in the direction of 5%"
03:52aU.S. trade agency drops tariff threat against Vietnam over currency practices
Latest news "Economy & Forex"