BOJ cuts growth forecast, unveils outline of climate scheme

Friday, July 16, 2021
BOJ cuts growth forecast, unveils outline of climate scheme © Reuters. FILE PHOTO: A Japan yen note is seen in this illustration photo taken June 1, 2017. REUTERS/Thomas White/Illustration/File Photo

By Leika Kihara and Daniel Leussink

TOKYO (Reuters) -The Bank of Japan cut this fiscal year's growth forecast on Friday but maintained its view the economy was headed for a moderate recovery, a sign monetary policy will be in a holding pattern for some time.

At its two-day rate review that ended on Friday, the BOJ also released an outline of its new scheme aimed at boosting funding for activities combating climate change.

It will offer zero-interest funds for a period of a year that can be rolled over any number of times to financial institutions, the outline showed.

The climate scheme will be launched this year and last until fiscal 2030. The BOJ will offer funds to banks that extend green and sustainability-linked loans, as well as invest in green bonds and sustainability-linked bonds. Transition finance loans will also be applicable for the scheme.

The BOJ said it will not pay any interest incentives to banks that tap the scheme.

As widely expected, the central bank left its yield curve control (YCC) target unchanged at -0.1% for short-term interest rates and 0% for 10-year bond yields.

In fresh quarterly projections released on Friday, the BOJ said it expects the economy to expand 3.8% in the current fiscal year ending in March 2022 and increase 2.7% the following year.

In prior forecasts made in April, the BOJ had expected the economy to grow 4.0% this fiscal year and 2.4% the following year.

A resurgence in infections has led the government to impose a new state of emergency in Olympic host city Tokyo less than two weeks before the Games, dashing policymakers' hope of a strong rebound in growth during the quarter.

Japan's economy shrank an annualised 3.9% in January-March and likely barely grew in the second quarter, as the pandemic took a toll on service spending.

Analysts polled by Reuters now expect the economy to grow 4.2% in the current quarter, lower than an estimate they made last month, due the hit from new pandemic curbs.

Leave your comment
28-07-2021 14:23:58 (UTC+7)

EUR/USD

1.1810

-0.0003 (-0.03%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

EUR/USD

1.1810

-0.0003 (-0.03%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

GBP/USD

1.3894

+0.0020 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

USD/JPY

109.82

+0.07 (+0.06%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (4)

AUD/USD

0.7354

-0.0006 (-0.08%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (7)

Sell (0)

USD/CAD

1.2575

-0.0025 (-0.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

EUR/JPY

129.71

+0.04 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (2)

EUR/CHF

1.0806

+0.0004 (+0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Gold Futures

1,804.60

+4.80 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

Silver Futures

24.848

+0.199 (+0.81%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Copper Futures

4.5418

-0.0180 (-0.39%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (8)

Crude Oil WTI Futures

72.03

+0.38 (+0.53%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (5)

Brent Oil Futures

73.81

+0.29 (+0.39%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (3)

Natural Gas Futures

3.889

-0.029 (-0.74%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (4)

US Coffee C Futures

204.93

-2.87 (-1.38%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

Euro Stoxx 50

4,073.69

+8.86 (+0.22%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (4)

S&P 500

4,401.46

-20.84 (-0.47%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

DAX

15,538.40

+19.27 (+0.12%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (3)

FTSE 100

7,000.75

+4.67 (+0.07%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Hang Seng

25,342.37

+281.50 (+1.12%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

US Small Cap 2000

2,189.73

-27.19 (-1.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

IBEX 35

8,702.00

+2.80 (+0.03%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

BASF SE NA O.N.

66.630

-0.430 (-0.64%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Bayer AG NA

50.08

-0.51 (-1.01%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Allianz SE VNA O.N.

211.03

+0.75 (+0.36%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (10)

Adidas AG

309.60

+0.60 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (1)

Deutsche Lufthansa AG

9.906

+0.002 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (7)

Siemens AG Class N

132.28

-1.05 (-0.79%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Deutsche Bank AG

11.064

+0.459 (+4.33%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.1810↑ Buy
 GBP/USD1.3894↑ Buy
 USD/JPY109.82Neutral
 AUD/USD0.7354Neutral
 USD/CAD1.2575↑ Sell
 EUR/JPY129.71Neutral
 EUR/CHF1.0806↑ Sell
 Gold1,804.60↑ Buy
 Silver24.848↑ Buy
 Copper4.5418↑ Sell
 Crude Oil WTI72.03Sell
 Brent Oil73.81Buy
 Natural Gas3.889Sell
 US Coffee C204.93↑ Buy
 Euro Stoxx 504,073.69Neutral
 S&P 5004,401.46↑ Buy
 DAX15,538.40Sell
 FTSE 1007,000.75Neutral
 Hang Seng25,342.37↑ Sell
 Small Cap 20002,189.73↑ Buy
 IBEX 358,702.00Sell
 BASF66.630↑ Sell
 Bayer50.08↑ Sell
 Allianz211.03Sell
 Adidas309.60↑ Buy
 Lufthansa9.906↑ Sell
 Siemens AG132.28↑ Sell
 Deutsche Bank AG11.064Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,715
(0/ 0) # 689
SJC HCM5,650/ 5,720
(-10/ -10) # 694
SJC Hanoi5,650/ 5,722
(-10/ -10) # 696
SJC Danang5,650/ 5,722
(-10/ -10) # 696
SJC Nhatrang5,650/ 5,722
(-10/ -10) # 696
SJC Cantho5,650/ 5,722
(-10/ -10) # 696
Cập nhật 28-07-2021 14:24:01
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,805.12+5.250.29%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2178022210
RON 95-II,III2168022110
E5 RON 92-II2049020890
DO 0.05S1637016690
DO 0,001S-V1672017050
Dầu hỏa1539015690
ↂ Giá dầu thô thế giới
WTI$72.03-0.22-0.30%
Brent$74.78-0.26-0.35%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.880,0023.110,00
EUR26.503,7027.882,80
GBP31.128,4532.428,70
JPY204,22214,93
KRW17,2420,98
Cập nhật lúc 14:16:20 28/07/2021
Xem bảng tỷ giá hối đoái