The Bank of Japan is likely to lower its economic projections again next month as the heavy impact of the coronavirus pandemic on the domestic and global economies becomes clearer.
The International Monetary Fund said earlier this week that it sees the world economy shrinking 4.9 percent this year, sharply lower than its April view, with COVID-19 seen causing a deeper global recession and a slower-than-expected recovery.
The gloomier world view follows a lengthy state of emergency in Japan that BOJ board members will also need to factor in to their quarterly forecasts when they meet July 14 to 15.