BOJ Chief Vows to Deal with Coronavirus Crisis

Politics

Tokyo, March 4 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda said Wednesday the central bank is determined to cope with the adverse effects of the novel coronavirus outbreak on the Japanese economy.

Kuroda told a House of Councillors Budget Committee meeting that the BOJ had believed that the domestic economy would bounce back in January-March, with downward pressures fading, including from recent major natural disasters.

"But the bank now finds it necessary to pay sufficient attention to the risk of the coronavirus outbreak having greater impact than initially expected on the economy," Kuroda went on to say.

The he stressed: "We are closely watching the economy, as well as the financial and capital markets, and will take appropriate action when necessary."

Kuroda said the China-born virus has already been affecting domestic production activities by causing disruptions to exports to mainlnd China and parts supply chains.

[Copyright The Jiji Press, Ltd.]

Jiji Press