Bank Of Japan Summary Of Opinions is out giving some more insight to the BoJ’s projection for inflation and economic growth.
BoJ April meeting summary of opinions
Japan’s economy likely to remain in severe state for time being, downside risks high on prospects for recovery.
short-term slump blamed on pandemic may not necessarily determine medium-, long-term path of japan’s economy.
Japan’s economy likely to improve, see prices pick up once pandemic subsides.
Timing of hitting price goal to be delayed as japan’s economy may face contraction as sharp as during the great depression in 1930s.
Must take steps focused on liquidity provision, also guard against further deterioration in economic conditions.
Meanwhile, USD/JPY climbed up 35 pips to 106.70/75 on the US employment report which was a slight improvement on expectations, but dismal nonetheless.