July 6, 2020 / 8:24 AM / a month ago

BOJ to project economic recovery in report next week – sources

TOKYO, July 6 (Reuters) - The Bank of Japan is expected to roughly maintain its view the economy will gradually recover later this year from the devastating impact of the coronavirus pandemic, sources familiar with the central bank’s thinking say, even as fears of a second wave of infections cloud the outlook.

The economic views, from the BOJ’s quarterly report due next week, will heighten the chances the central bank will keep monetary policy steady at its rate review on July 14-15, after having ramped up stimulus in March and April.

But the BOJ’s report is expected to warn that risks to the outlook are extremely high, including a second wave of infections that could delay any recovery in global and Japanese growth, the four sources told Reuters. (Reporting by Leika Kihara and Takahiko Wada; Editing by Jacqueline Wong)

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