Coronavirus to slash Japan's 2020 GDP growth by 0.2 percentage points - Reuters poll


The latest Reuters poll of 32 analysts revealed on Friday, a majority of them believe that the coronavirus epidemic will shave up to 0.2 percentage points off Japan’s 2020 GDP growth rate, as it will have a negative impact on the country’s exports, factories and tourism.

Key Findings:

“Asked how much the virus outbreak could cut Japan’s economy this calendar year, 17 of 32 analysts said 0.1-0.2 percentage points and seven said less than 0.1 percentage point.

For the current fiscal year ending in March, analysts expect Japan’s gross domestic product (GDP) to expand 0.8% with last year’s sales tax hike seen triggering a contraction in growth in October-December.

Growth is likely to slow to 0.5% in the fiscal year beginning in April

70% predict the BOJ’s next policy move would be to whittle down its massive stimulus program, largely unchanged from the previous month’s survey.

A majority of economists also expected any such move to happen sometime in 2022 or later. Those who expect the central bank’s next move to be an additional easing stood at 30%.

20 of 39 economists don’t expect the BOJ to review its policy, while 19 said the central bank will. Among those who selected “yes”, more than half predicted it could be by the first half of 2021 and 42% said it would be sometime in 2020 or later.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Growth concerns to keep weighing on the sentiment

The EUR/USD pair closed a second consecutive week unchanged around 1.1840, as the dollar got to appreciate ahead of the close on upbeat US data combined with risk-off. Sluggish global economic growth to keep weighing on the market’s sentiment.

EUR/USD News

GBP/USD: Brexit deal and coronavirus second wave leading the way

The GBP/USD pair stalled its weekly recovery on Friday, ending the day in the red at around 1.2915. Mild hopes related to a post-Brexit trade deal with the EU provided modest support to Sterling earlier in the week.

GBP/USD News

Gold: Next week's key macroeconomic events to keep an eye on

The troy ounce of the precious metal closed the week modestly higher at $1,950 but struggled to make a decisive move in either direction. Following its September policy meeting, the Federal Reserve kept its policy rate unchanged as ...

Gold News

It was the best of times, It was the worst of times

Economic reports from most of the major economies show the pace of the recovery has slowed.  In the same way, the recovery began before the end of the  Q2, the loss of economic momentum was seen as early as July in some series and August in others.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures