BOJ’s Kuroda: COVID-19 has had a severe impact on countries all over world and Japan is no exception
|In a published text, the Bank of Japan (BOJ) Governor Haruhiko Kuroda made some comments on the coronavirus pandemic and its impact on the world economy.
Key quotes
“COVID-19 pandemic has had a severe impact on countries all over the world, and Japan is no exception.”
“Japan's economy is likely to remain in a severe situation for the time being. “
“As the impact of COVID-19 wanes globally in the second half of the year, Japan’s economy is likely to improve.”
“There is a risk that the second-round effects of COVID-19 may push down Japan’s economy considerably.”
“It is essential to maintain Japan’s financial system stability and accommodative financial conditions.”
“Among key points for BOJ ahead is whether firms' and households' growth expectations will decline and lead to cautious attitudes toward spending.”
“Japan's financial system has maintained stability on the whole, and the lending stance of financial institutions has been active.”
“BOJ will continue to support financing mainly of firms and to maintain stability in financial markets.”
USD/JPY unfazed above 107.00
USD/JPY keeps its range around 107.15 in early Asia, with Governor Kuroda's comments having little to no impact on the yen.
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