Downward Pressure on In-Person Consumption to Continue: BOJ Kuroda

Economy Politics

Tokyo, April 15 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda said Thursday that the consumption of in-person services is expected to continue seeing downward pressure due to the resurgence of the novel coronavirus since last autumn.

Characterizing the country's economy as "being on a recovering trend, though in a severe state," Kuroda suggested that the central bank will closely monitor economic trends, including the epidemic's impact on the eateries and lodging sectors.

He made the comments at the start of a quarterly meeting of the BOJ's branch managers held over a videoconferencing system.

The Japanese government has put some areas in Tokyo and five other prefectures under the coronavirus pre-emergency stage based on the special law for the fight against the virus, allowing relevant local authorities to implement strict measures to prevent the spread of infections. Some, including experts, have described the current state of infections as a "fourth wave."

Kuroda expressed his intent to continue the BOJ's massive monetary easing, saying, "We will continue efforts to support corporate financing and help maintain the stability of financial markets."

[Copyright The Jiji Press, Ltd.]

Jiji Press