BoJ weighs green, digital investment

TOKYO: The Bank of Japan (BoJ) must seek ways to encourage corporate investment to promote digitalisation and a carbon-free society, according to one of its board members at a January meeting, suggesting that the idea could emerge as a future policy option.Meeting for a rate review weeks after the government rolled out fresh curbs to prevent the spread of the coronavirus pandemic, BoJ policymakers warned of various risks that cloud their projections of a moderate economic recovery.

Among them was the chance the pandemic could prod firms to put off investment for innovation, minutes of the Jan 20-21 meeting showed yesterday.

“It’s important to encourage corporate activities for future growth such as research and development investment, business portfolio reforms, and efforts on digitalisation and decarbonisation, ” one of the members was quoted as saying.

“It’s crucial for the BoJ to devise monetary policy means to boost firms’ and households’ growth expectations by showing its determination to never allow a return to deflation, ” the member said. — Reuters

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