The Bank of Japan minutes revealed that a few members said prolonged damage to economy from pandemic could lead to solvency problems for some firms, affect financial system stability. Members agreed must ease without hesitation if needed, with eye on impact of pandemic on economy. One member said must examine whether current policy framework was sufficient, act promptly if action was needed. One member said close, appropriate coordination between fiscal, monetary policies crucial. Members agreed there was risk financial intermediation could stagnate if financial institutions’ profits remain under prolonged strain. Members agreed there was chance financial system vulnerability might heighten. One member said BoJ must look more deeply into how monetary policy could be shaped in ‘with-corona’ world. One member said must scrutinise how monetary policy affects business management from medium-term perspective. Govt representative said hope boj keeps in close contact with govt in achieving early economic recovery via appropriate monetary policy. A few members said must retain cautious view on pace of overseas economic recovery. A few members said must be on alert to risk Japan, other countries, might see a renewed resurgence in coronavirus infections. One member said a resurgence in infections would delay timing of economic recovery. One member said impact of pandemic, if prolonged, could lead to job losses, hurt household income and spending. A few members said prolonged damage to economy from pandemic could lead to solvency problems for some firms, affect financial system stability. The Bank of Japan publishes a study of economic movements in Japan after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and indicate a sign of new fiscal policy. Any changes in this report tend to affect the JPY volatility. Generally speaking, if the BoJ minutes show a hawkish outlook, that is seen as positive (or bullish) for the JPY, while a dovish outlook is seen as negative (or bearish). Market implications There is a growing sentiment of insolvency problems in the market. The bank indexes are bleeding to extraordinarily low levels, such as the KRB. More here: USD/JPY testing bear’s commitments at a critical resistance FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Price Analysis: 23.6% Fib retracement support breached FX Street 2 years The Bank of Japan minutes revealed that a few members said prolonged damage to economy from pandemic could lead to solvency problems for some firms, affect financial system stability. Members agreed must ease without hesitation if needed, with eye on impact of pandemic on economy. One member said must examine whether current policy framework was sufficient, act promptly if action was needed. One member said close, appropriate coordination between fiscal, monetary policies crucial. Members agreed there was risk financial intermediation could stagnate if financial institutions' profits remain under prolonged strain. Members agreed there was chance financial system vulnerability might heighten.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.