The Bank of Japan has announced the agenda of the July meeting after deciding on the outline of new funding measures to support climate change-related investment and financing.
The policymakers commented that it is important to exercise discipline by asking the target banks to disclose certain information.
At the monetary policy meeting in July, the Bank of Japan decided on the outline of a new financing measure to lend at zero interest rate in order to support investment and financing for climate change by private banks and others.
According to the agenda of the meeting released on the 28th, one member said, "If the central bank directly intervenes and responds to climate change, various distortions in the financial system can occur." He pointed out that such effects can be avoided by leaving the investment and financing to the judgment of banks.
In addition, another committee member said, "It is important to have a mechanism that exercises discipline by requesting a certain amount of disclosure." Was shown.
On the other hand, at the meeting, several committee members expressed the view that there was a difference in recovery between the face-to-face service industry such as eating and drinking and accommodation and the manufacturing industry, and that "the economy is becoming polarized". In addition, one committee member pointed out that even if vaccination progresses, it may not immediately lead to expansion of economic activity while requests for self-restraint such as going out and moving are continuing.