The Bank of Japan has kept the interest rate unchanged at a level of 0.25 percent. This decision was made on Thursday. Moreover, the bank maintains its forecast that inflation will remain close to the target level of two percent in the coming years.
"We expect that inflation will be increasing against the backdrop of domestic and external demand recovery, although overall the impact of the pandemic on global growth and activity remains significant," the bank said in its statement.
The Bank of Japan aims to support economic recovery in the pandemic conditions, adopting various measures to support the financial system and increase the level of consumption.
"We will continue to monitor the economic situation and are ready to adopt additional measures if necessary," noted the bank's representatives.
