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Economic Buzz: Bank of Japan minutes show economy expected to continue upward trend

26-Sep-24 11:01 Hrs IST

Members of the Bank of Japan's Monetary Policy Board said that the country has largely recovered the financial stresses of the past few years, minutes from the central bank's meeting on July 30-31 revealed on Thursday - and the economy is likely to continue to grow.

Japan's financial conditions have been accommodative, the minutes added. Exports and industrial production have been fairly flat, but employment and corporate profits have increased.

Inflation expectations have risen moderately, the minutes continued, but they are consistent with the central bank's price stability target.

At the meeting, the BoJ raised its benchmark rate by 15 basis points and also announced its plan to reduce bond purchases to around JPY 3 trillion by the first quarter of 2026.

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