Bank of Japan (BOJ) 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.
FILE PHOTO: Bank of Japan Governor Haruhiko Kuroda takes questions from reporters at the annual meetings of the International Monetary Fund and World Bank in Washington, U.S., October 18, 2019. REUTERS/James Lawler Duggan
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. “At this moment, we didn’t see the 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.
Kuroda said he was “cautiously optimistic” that Japan’s economy will gradually recover from the second half of this year, allowing the BOJ to scale back its crisis-response steps.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Medical workers talk about COVID-19 crisisMedical workers from all over the U.S. warn that COVID-19 is still a threat: “In some ways it’s almost like fighting a ghost because you just don’t know what you’re up against.”
Read more »
Three Ways to Address Guilt When You’re GrievingGrieving is hard enough without blaming yourself for imaginary mistakes. Here's how to let go of unnecessary guilt so you can truly heal.
Read more »
California sets back-to-back records for highest daily coronavirus casesFor two consecutive days, California reported more than 6,000 COVID-19 infections.
Read more »
Texas Pausing Reopening Efforts as Coronavirus Cases SurgeStatewide, the number of COVID-19 patients has more than doubled in two weeks
Read more »
UFC's 'Fight Island' COVID-19 Plan Revealed, 5 Rounds of Testing!The UFC fighters set to compete on 'Fight Island' will undergo multiple rounds of testing before they're even allowed to step in the octagon.
Read more »
Accenture narrows FY revenue growth forecast range on COVID-19 impactIT consulting firm Accenture Plc narrowed its full-year revenue growth forecast range on Thursday as customers curbed spending and delayed projects due to the coronavirus-fueled slump in demand.
Read more »