Japan's economy appears to have hit bottom and is eyeing a recovery from the damage caused by the coronavirus pandemic, its finance minister said, underscoring cautious optimism spreading among policymakers after the relaxation of lockdown measures.
FILE PHOTO: Japanese Finance Minister Taro Aso 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
The remarks come ahead of next week’s rate review by the Bank of Japan, which is likely to hold off on expanding stimulus and stick to its view the world’s third-largest economy is headed for a gradual recovery. He added that conditions surrounding Japan’s economy will remain “severe” for the time being due to risks such as the chance of a second wave of infections.
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.
Pioneer of yield target, Japan drifts back to money printing to battle pandemicAs central banks dive into the uncharted waters of yield curve control, Japan, the pioneer of the unorthodox policy, is struggling to stay focused on its own yield targets as it looks instead to money printing to help firms hit by the coronavirus.
Read more »
YOASOBI Logs Third Week at No. 1 on Japan Hot 100
Read more »
Trump advisor Larry Kudlow: 'Looks like we've hit a turning point' in the economy'Let's hope that this thing bottomed way in April and we're headed towards a terrific recovery in the second half of the year,' NEC Director Larry Kudlow told CNBC.
Read more »
US Fed forecasts no policy rate hike through 2022With the economy still reeling from the damage inflicted by the coronavirus pandemic, the Federal Reserve confirmed it will keep the benchmark interest rate at zero until the recovery is underway.
Read more »