Since 1975
  • facebook
  • twitter
  • Home
  • Business
  • BOJ chief vows to deal with coronavirus crisis

BOJ chief vows to deal with coronavirus crisis

Bank of Japan Governor Haruhiko Kuroda speaks at the International Monetary Fund headquarters in Washington, DC, on July 22. 2019.  (AFP)
Bank of Japan Governor Haruhiko Kuroda speaks at the International Monetary Fund headquarters in Washington, DC, on July 22. 2019. (AFP)
Short Url:
04 Mar 2020 05:03:11 GMT9
04 Mar 2020 05:03:11 GMT9

TOKYO: Bank of Japan Governor Haruhiko Kuroda said Wednesday the central bank is determined to cope with the adverse effects of the novel coronavirus outbreak on the Japanese economy.

Kuroda told a House of Councilors Budget Committee meeting that the BOJ had believed that the domestic economy would bounce back in January-March, with downward pressures fading, including from recent major natural disasters.

“But the bank now finds it necessary to pay sufficient attention to the risk of the coronavirus outbreak having greater impact than initially expected on the economy," Kuroda went on to say.

Then he stressed: "We are closely watching the economy, as well as the financial and capital markets, and will take appropriate action when necessary."

Kuroda said the China-born virus has already been affecting domestic production activities by causing disruptions to exports to mainland China and parts supply chains.

Japan also sees drops in inbound demand due to a decline in the number of foreign visitors, particularly Chinese tourists, and in personal consumption amid a growing mood for refraining from going out, he noted.

JIJI Press

Most Popular
Recommended

return to top