Japan may still maintain a super-loose monetary policy

Economy Japan currently facing many difficulties due to the devaluation of Yen. However

It is expected that in this meeting, the BOJ will raise its inflation forecast for fiscal 2022, from 1.1% to 1.5-1.9%, and discuss the devaluation of the local currency against the economy. economy and domestic prices.

However, 89% of the experts analyzed Bloomberg There won’t be any change in interest rates and asset purchases, the survey said.

According to experts, BOJ officials will only consider adjusting monetary policy if the yen falls from the current 128 yen to 1 dollar, to 130 yen to 1 dollar.

The BOJ leadership has repeatedly emphasized the need to maintain stimulus measures to support the economy’s recovery from the COVID-19 pandemic.

Earlier, speaking at a session of the National Assembly on April 18, BOJ Governor Haruhiko Kuroda said that the Yen is depreciating “relatively quickly” against the US dollar, and warned about the negative impact of the current situation. This phenomenon to the recovery momentum is still fragile of the Japanese economy.

He emphasized that the Yen’s devaluation from 115 Yen/USD to nearly 127 Yen/USD in just one and a half months is relatively fast and such a sharp drop could increase instability, causing difficulties for businesses. in business planning.

Analysts say that although a weak yen will help boost exports and increase profits of businesses specializing in the production of goods for export, it will increase costs for importers and exporters. increasing pressure on households in the country.

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