Bank of Japan Governor Kuroda actually said Q2 GDP was likely to see considerable negative growth.
C'mon dude, don't try to fob us off with "negative growth".
More:
- BOJ will continue to closely monitor economic impact of COVID-19
- BOJ will take any steps as needed
- at this moment, we didn't see need to further lower entire yield curve
- if necessary, we will further lower yield curve but for now, we are focusing on supporting corporate financing, maintaining market stability
- although it is likely to take time, there is no change in BOJ'sstance of aiming at achieving price stability target of 2%
- as impact of covid-19 subsides globally in 2nd half of this year, Japan's economic recovery will gradually accelerate and inflation rate is expected to increase gradually
- capital, liquidity requirements are necessary but those buffers should be utilized when extreme need for financing the economy arises
- in case there is a need, banks should be allowed to use buffers, go below required capital, liquidity ratios
