BOJ’s Kuroda: Don't see China’s property sector woes to trigger huge global shock

Dhwani Mehta FXStreet

Further comments are flowing in from the Bank of Japan (BOJ) Governor Haruhiko Kuroda, as he continues to speak on the economic growth and Chinese property sector woes.

Key quotes

Today's weak GDP likely due to consumption slump in Sept when spike in infections hit eating-out, travel.

Japan's economy likely to gradually recover in Oct-Dec quarter.

Rising commodity prices reflect strong global demand, which is positive for Japan’s economy overall.

Rising commodity prices affecting sectors, companies in varying ways, watching impact on economy carefully.

Corporate fund demand gradually subsiding as economy reopens, but uncertainty remains on pandemic outlook.

Japan financial institutions' exposure to China’s Evergrande is very small.

Don't expect China’s property sector woes to have huge impact on Japan’s economy, banks.

Don't see China’s property sector woes to trigger huge global shock.

China's economy likely won't see growth return to around 7%, requiring Japan firms to revise some of their views on China’s outlook.

USD/JPY remains below 114.00

The renewed comments from Governor Kuroda have little to no impact on the yen, as USD/JPY trades modestly flat around 113.80, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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