Investing.com - Japanese exports face headwinds with the political crisis in Thailand, a key supply chain hub, hurting business and acting as an economic drag, minutes from the Bank of Japan's May board meeting released on Wednesday showed.
"Some members commented that they were paying attention to whether exports would start increasing after the disappearance of temporary downward pressure, such as the effects of the unusually severe winter weather in the United States and firms' stance of placing priority on domestic shipments in response to the front-loaded rise in demand prior to the consumption tax hike," the minutes said.
The board will "closely monitor whether political unrest in Thailand would adversely impact Japan's exports."
At the May meeting, the BoJ decided by a unanimous vote to leave the policy target unchanged as expected.