BOJ’s Kuroda: Japan's economy will likely see 'considerable negative growth' in Q2 2020

Further comments are flowing in from the Bank of Japan (BOJ) Governor Haruhiko Kuroda, as he continues to speak about the economy and the monetary policy outlook, in the face of the coronavirus pandemic.

“Japan's economy will likely see 'considerable negative growth' in the 2nd quarter this year.”

“BOJ will of course continue to closely monitor the economic impact of COVID-19 and take any steps as needed.”

“At this moment, we didn't see the need to further lower the entire yield curve.”

“If necessary, we will further lower the yield curve but for now, we are focusing on supporting corporate financing, maintaining market stability.”

“Although it is likely to take time, there is no change in BOJ’s stance of aiming at achieving price stability target of 2%.”

“As the impact of COVID-19 subsides globally in the 2nd half of this year, Japan’s economic recovery will gradually accelerate and the inflation rate is expected to increase gradually.”

“Capital, liquidity requirements are necessary but those buffers should be utilized when the extreme need for financing the economy arises.”

“in case there is a need, banks should be allowed to use buffers, go below-required capital, liquidity ratios.”

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