TOKYO: One Bank of Japan policymaker, at a monetary policy meeting on Oct. 28-29, stressed the need for the central bank to extend its support measures related to the new coronavirus epidemic, a summary of opinions at the meeting showed Monday.
As the virus crisis may be prolonged, the member said that the BOJ “should avoid bringing a premature end to its current policy responses,” calling for an extension of corporate financing support and other measures related to the coronavirus, according to the summary.
The BOJ’s coronavirus relief measures are currently set to expire at the end of March 2021.
At a press conference after the policy meeting, BOJ Governor Haruhiko Kuroda said the central bank will extend the period of the support measures “if deemed necessary.”
On weak price movements, one member said that “price cuts are not expected to be observed widely,” while another member voiced concerns, saying that “deflation might take hold,” according to the summary.