BOJ’s Kuroda Concerned about Impact of Virus Emergency

Economy Politics

Tokyo, Jan. 21 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda on Thursday expressed concerns about the economic impact of the government’s fresh coronavirus state of emergency issued earlier this month.

“The impact on the economy will become large if it continues for a long time,” Kuroda told a press conference, referring to the state of emergency in place for Tokyo and 10 other prefectures.

There are fears that the government may extend the state of emergency, slated to expire on Feb. 7, depending on the state of the epidemic.

Kuroda expressed caution over a slide in private consumption. “There’s strong downward pressure, mainly in face-to-face services” such as eateries and lodging services, he said.

On the other hand, Kuroda said that “exports and production are recovering more vigorously than expected and are almost returning to levels before the outbreak.”

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Jiji Press