- ARAB NEWS
- 20 Apr 2024
Since 1975
TOKYO: Bank of Japan Governor Haruhiko Kuroda said second-round effects of the coronavirus pandemic could hurt the Japanese economy "considerably", signalling the bank's readiness to ramp up stimulus measures again to cushion any blow from the crisis.
But in an online seminar on Friday Kuroda said the central bank saw no immediate need to cut interest rates, and instead will focus on easing corporate funding strains and stabilising markets with its lending facility and asset purchases.
"Japan's economy has been in an extremely severe situation ... In the second quarter, we'll likely see considerable negative growth," Kuroda said.
"At this moment, we didn't see need to further lower the entire yield curve. Of course, if necessary we will do that but now we don't think it's necessary," he said.
Reuters
