The Bank of Japan stabilizes policy and provides a darker view of exports and output


During the outbreak of coronavirus disease (COVID-19) in Tokyo on May 22, 2020, a man wearing a protective mask passed by the headquarters of the Bank of Japan. (Kim Jeong Hoon / Reuters)

Tokyo-The Bank of Japan stabilized monetary policy on Wednesday, but gave a dark view of exports and factory production as the closure of factories in Asia caused disruption in the supply chain of some manufacturers.

As widely expected, the Bank of Japan maintained its short-term interest rate target at 0.1% and yielded 10-year government bonds at around 0%.

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

The Bank of Japan said in July that exports and production continued to grow steadily.