BoJ stands firm on policy

Medium growth: The Japanese flag flies on the Bank of Japan headquarters in Tokyo. The central bank says the pace of recovery will be moderate as the pandemic lingers. — AFP

TOKYO: The Bank of Japan (BoJ) kept monetary policy steady yesterday and maintained its view that the economy would gradually emerge from the coronavirus pandemic’s devastating blow, signalling a pause after delivering stimulus twice so far this year.

But it warned that uncertainty over the outlook was “extremely high” due to various risks, including the possibility of a huge second wave of infections and potential disruptions to the banking system.