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The Bank of Japan (BOJ) is out with its June monetary policy meeting’s Summary of Opinions, noting that the Japanese economy is showing some signs of bottoming out.

Key highlights

“Japan’s economy under pressure from virus fallout but showing some signs of bottoming out.”

“Prolonged negative impact from pandemic on global growth, japan economy, looks unavoidable. “

“Delay in economic recovery could destabilize markets, potentially hurt the financial system. “

“Hard to project inflation approaching BOJ’s 2% target in the foreseeable future.”

“If a slump in consumer inflation is prolonged, it could affect inflation expectations.”

“Must guard against the risk of japan returning to deflation as pandemic hitting broad sectors of the economy.”