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- Pandemic response will remain BOJ's policy focus - BOJ Governor
Pandemic response will remain BOJ's policy focus - BOJ Governor
Reuters reports that the Bank of Japan Governor Haruhiko Kuroda said the central bank would continue to focus on cushioning the economic blow from the coronavirus pandemic given lingering uncertainty over the outlook.
But he said the economy's recovery would become clearer as the impact of the pandemic subsides, and pent-up demand props up consumption.
"It's true Japan's economy has been held back by the successive waves of COVID-19. But the mechanism for an economic rebound remains in place," Kuroda said.
"Exports, output continue to increase. Consumption likely to rebound ahead with support from pent-up demand. But timing of consumption recovery will depend largely on developments regarding pandemic", Kuroda said, and added that exports, output are likely to slow near-term as factory shutdowns in southeast Asia affect Japan manufacturers.
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