BOJ's Kuroda: Economic activity has gradually resumed
BOJ governor, Haruhiko Kuroda, begins his press conference
- But Japanese economy remains in an extremely severe siituation
- Pace of recovery to only be moderate
- Inflation is likely to be negative for the time being
- Future economic developments remain extremely unclear
- Risks are tilted to the downside for prices, economic growth
- BOJ won't hesitate to ease further if needed
- Will continue to support corporate financing, markets
Kuroda is still maintaining a more subdued take on the economic situation but that is hardly a surprise. The recent economic data from Japan have been rather poor and a possible virus resurgence only adds to more risks surrounding the outlook.
But Kuroda stands firm in assuring that the BOJ policies since March are having an impact, though I'm sure they pretty much lucked out on this one with the Fed and ECB doing most of the heavy lifting to appease financial risks in the market for the most part.