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BoJ debated bright signs in economy in March even as it reviewed policy tools

At the March meeting, the BOJ decided on a range of steps to make its policy tools sustainable enough to weather a prolonged battle to cushion the economic blow from COVID-19, and fire up inflation to its perennially elusive 2% target.

March 29, 2021 / 08:55 AM IST

Some Bank of Japan (BOJ) policymakers saw early bright spots in the pandemic-hit economy even as they debated steps to make the bank's ultra-loose monetary policy more sustainable, a summary of opinions voiced at the March rate review showed on Monday.

At the March meeting, the BOJ decided on a range of steps to make its policy tools sustainable enough to weather a prolonged battle to cushion the economic blow from COVID-19, and fire up inflation to its perennially elusive 2% target.

"Japan's economy may be shifting away from a downward trend since the outbreak of COVID-19, with exports and output remaining firm," one of the nine board members was quoted anonymously as saying in the summary.

The BOJ releases a summary of opinions voiced at each policy-setting meeting several days after the meeting, but does not disclose who expressed the opinions.