BoJ's Kuroda: COVID-19's impact on economy severe

Thursday, 09. April 2020 03:13

The coronavirus pandemic is having a severe negative impact on the Japanese economy as a drop in consumption, exports, output and tourism are harming businesses, Bank of Japan Governor Haruhiko Kuroda said.

Kuroda emphasized the BoJ will "not hesitate" to add new monetary easing steps and added the bank will conduct bond purchase operations to help corporate funding. However, he noted that the country's financial system is still healthy.

Earlier, Kuroda said that the central bank would change its policy if inflation approaches 2%.

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Breaking the News / VP