BOJ's Kuroda Warns of Risk from Slow Vaccine Rollout

Politics

Tokyo, May 19 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda on Wednesday warned of a risk that a slow rollout of COVID-19 vaccines could put downward pressure on the country's economy.

"Japan's economy has picked up as a trend, although it has remained in a severe situation due to the impact of COVID-19," Kuroda said in an online speech organized by the Research Institute of Japan, a Jiji Press affiliate.

If the COVID-19 impact subsides, "an uptrend in private consumption, including that of face-to-face services, is projected to become evident," he said.

But he said "the pace of vaccine rollout and the effectiveness of the vaccines entail uncertainties, and therefore there is a risk that downward pressure on economic activity will increase."

The government aims to finish vaccinating elderly people by the end of July, but it is uncertain whether the goal will be met.

[Copyright The Jiji Press, Ltd.]

Jiji Press