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Concerns over supply constraints shared at Sept. BOJ meeting

  • October 1, 2021
  • , Jiji Press , 5:46 p.m.
  • English Press

Tokyo, Oct. 1 (Jiji Press)–Some members of the Bank of Japan’s Policy Board at a meeting in September voiced concerns about the effects of supply constraints, such as semiconductor shortages and difficulties in parts procurement due to the spread of the novel coronavirus in Southeast Asia, the BOJ revealed Friday.

 

“Continued attention needs to be paid to the possibility that supply-side constraints…will expand or be prolonged,” a member said, according to the summary of opinions at the Sept. 21-22 monetary policy meeting released by the central bank.

 

The policymakers agreed that exports and production were continuing to rise.

 

Regarding the financial crisis involving Chinese real estate conglomerate Evergrande Group, a member was quoted as saying, “It is necessary to be vigilant in closely monitoring economic and financial developments, including the impact of developments in the Chinese real estate sector on global financial markets, and be ready to respond promptly if necessary.”

 

Meanwhile, a member said that the Chinese economy was showing signs of a slowdown.

 

At the meeting, the BOJ adopted the basic outline of a scheme to supply funds to financial institutions for investments and loans for tackling climate change.

 

“The amount (of funds to be supplied) is expected to increase as this operation serves as a catalyst and, accordingly, as the private sector steps up its efforts,” a member said.

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