The bank’s policy board maintained its target for short-term interest rates at minus 0.1% and its target for the 10-year Japanese government-bond yield around zero

Reporter

TOKYO—The Bank of Japan lowered its economic growth forecast on 15 July in a reflection of the coronavirus pandemic, and kept its monetary policy unchanged.

“Japan’s economy has been in an extremely severe situation with the impact of Covid-19 remaining at home and abroad,” the bank said in its quarterly economic outlook report.

Bank of Japan cuts economic growth forecast, stands pat on monetary policy

The bank's policy board maintained its target for short-term interest rates at minus 0.1% and its target for the 10-year Japanese government-bond yield around zero

Megumi Fujikawa

Bank of Japan

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