BOJ to Keep Tabs on Economic Impact of Epidemic: Kuroda


Tokyo, Jan. 14 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda signaled Thursday the BOJ's intention to keep tabs on the impact of the spread of new coronavirus infections on the country's economy, including effects from the ongoing COVID-19 state of emergency.

At a quarterly meeting of the BOJ's branch managers, Kuroda said that the Japanese economy "is picking up though it remains in a severe situation."

The governor, however, said that "the pace of recovery is expected to remain moderate while vigilance against the virus crisis continues."

The Japanese government declared last week a second state of emergency in Tokyo and three surrounding prefectures and expanded the measure to cover seven additional prefectures from Thursday.

According to Kuroda, price drops in Japan are likely to continue for the time being, reflecting the fallout from the virus crisis, as well as sluggish crude oil prices and a fall in accommodation fees led by the central government's Go To Travel campaign to shore up tourism amid the coronavirus crisis.

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Jiji Press