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- BoJ's governor Kuroda: Beginning to see light at the end of the pandemic tunnel but light does not clearly reveal the shape of the society and economy we are approaching
BoJ's governor Kuroda: Beginning to see light at the end of the pandemic tunnel but light does not clearly reveal the shape of the society and economy we are approaching
- Unevenness of recession, ongoing recovery could reinforce increase in savings, inequality, and debt
- The initial phase of policymakers' crisis response was to provide liquidity support but this will likely change to fixing solvency and corporate viability problems
- Policymakers face additional challenges of addressing economic inequality and increasing worldwide concerns over climate change
- The nature of policy responses will also shift from temporary first aid measures to medium- to long-term structural policies
- Advances in digitalization are expected to enhance productivity and benefit wide range of individuals and firms
- If growth is concentrated in a small fraction of society and inequality increases, difficult to achieve inclusive economic growth
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