BOJ’s Kuroda: Uncertainty on economic outlook is high due to coronavirus
The Bank of Japan’s (BOJ) Haruhiko Kuroda said that uncertainty on the economic outlook is high due to coronavirus while speaking at its post-monetary policy meeting press conference scheduled on Friday.
Additional comments
Japan's economy remains in severe state but picking up as a trend.
Overseas economies recovering as a whole.
Consumption stagnating due to weak service-sector spending.
Japan's economic activity will remain low for time being but seen recovering as vaccinations proceed.
Capex is recovering but showing some signs of weakness.
Consumer inflation to hover around 0% for time being, then gradually accelerate.
Risks to prices are skewed to downside.
Won't hesitate to take additional easing steps if necessary.
Economic activity to remain below pre-pandemic levels for time being.
Want to closely watch Japan’s economic trend.
Market reaction
USD/JPY is keeping its range around 110.00, as markets digest Kuroda’s comments, which came in as a no surprise and therefore, fail to move the yen.
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.
