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Reuters

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The Bank of Japan said on Tuesday low interest rates and structural factors will continue to weigh on financial institutions’ profits even after the COVID-19 pandemic subsides.

“Japan’s financial system remains stable as a whole,” even though the pandemic is inflicting huge damage to the economy, the BOJ said in a semi-annual report analysing the country’s banking system.

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Southeast Asian countries will discuss the crisis in Myanmar at a summit in Jakarta on Saturday, the ASEAN bloc’s secretariat said on Tuesday, but Thailand’s prime minister said several will be represented only by their foreign ministers.

The Bank of Japan is set to predict for the first time that inflation will remain well short of its 2% target beyond Governor Haruhiko Kuroda’s term through early 2023, say sources familiar with its thinking.

7:13 AM UTC

The Bank of Japan said on Tuesday low interest rates and structural factors will continue to weigh on financial institutions’ profits even after the COVID-19 pandemic subsides.

6:32 AM UTC

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