BOJ’s Kuroda: Impact of COVID-19 on Japan's economy to persist for prolonged period
|Further comments are flowing in from the Bank of Japan (BOJ) Haruhiko Kuroda, as he continues to speak on the economic and monetary policy outlooks.
Key quotes
Global economy showing signs of hitting bottom, Japan's economy showing similar signs.
Impact of COVID-19 on Japan's economy to persist for prolonged period.
Japan's economy to experience clear, positive growth in fiscal 2021.
Risks to Japan's economy, prices skew to downside.
BOJ will take additional easing steps without hesitation if needed.
YCC exerting intended effect on economy.
BOJ must stem any sharp rise in interest rates, have made tools available to do so in march review.
BOJ must keep entire yield curve stably low while impact of pandemic continues.
Steps taken at march review allow BOJ to promote powerful monetary easing even further.
While it is taking time, it's possible to achieve BOJ’s 2% inflation target by maintaining easy policy.
List of fund-provisioning measures eligible for each category of new incentive scheme can be changed at BOJ’s policy meeting.
BOJ has been examining risks of financial imbalances in conduct of monetary policy, will pay further attention to developments in the financial system.
USD/JPY hits 110.00
Ignoring chatter about the fiscal year-end selling around 110.00, USD/JPY remains firmer on the session, having tested the latter in the last hour.
The spot continues to benefit from rising Treasury yields while trading 0.17% higher at 109.96, as of writing.
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