BOJ Closely Monitoring Impact of Evergrande Scare: Kuroda

Economy Politics

Tokyo, Sept. 22 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda said Wednesday that the BOJ will keep a close watch on developments over troubled Chinese real estate developer Evergrande Group.

"We will closely monitor the situation, including the possible impact on international financial markets" of the management crisis at the Chinese company, Kuroda told a press conference after the end of the BOJ's two-day policy-setting meeting.

With investors increasingly risk-averse in the wake of default fears over Evergrande Group, Kuroda said that "jittery moves have been observed" on financial markets.

Kuroda said that the Japanese economy remains on a recovery trend.

Personal consumption, which has been slumping due to the novel coronavirus pandemic, is about to move toward recovery in line with progress on COVID-19 vaccinations, he said.

[Copyright The Jiji Press, Ltd.]

Jiji Press