BOJ March 16 monetary policy meeting summary - full text

Author: Eamonn Sheridan | Category: Central Banks

This was the emergency Bank of Japan meeting, brought forward a couple of days to address the coronavirus economic impact  

Headlines via Reuters:
  • must strengthen monetary easing to prevent worsening of corporate, household confidence
  • when events are being cancelled and people are told to stay home, what's necessary is not to stimulate demand but to alleviate corporate funding fears, stabilise markets
  • priority for time being is to provide ample liquidity, support corporate funding via temporary measures
  • hope the government takes appropriate, large scale steps as many people are losing opportunities for work, suffering from falling income
  • the BOJ can respond flexibly, including holding emergency meeting again, pick up the pace of JGB buying to its 80tln yen per year guidleine
  • BOJ must work with government to support growth viua policy co-ordinaton
  • BOJ must maintain strong co-ordination with the government and with other central banks 

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