BOJ Keeps Policy Steady, Offers Gloomier View on Exports and Output

BOJ Keeps Policy Steady, Offers Gloomier View on Exports and Output
A man wearing a protective mask walks past the headquarters of the Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, on May 22, 2020. Kim Kyung-Hoon/Reuters
Reuters
Updated:

TOKYO—The Bank of Japan kept monetary policy steady on Wednesday but offered a bleaker view on exports and factory output, as Asian factory shutdowns caused supply-chain disruptions for some manufacturers.

As widely expected, the BOJ maintained its short-term interest rate target at—0.1  percent and that for 10-year government bond yields around zero percent.

“Exports and factory output continue to increase, although they are partly affected by supply constraints,” the central bank said in a statement announcing its policy decision.

In July, the BOJ said exports and output continue to increase steadily.