BOJ Gov Kuroda speech text released by the Bank
- global economic outlook highly uncertain
- spread of coronavirus is having a severe impact on japan's economy via exports, output, inbound tourism and slump in consumption
- uncertainty on Japan's economic outlook is extremely high
- investors' risk sentiment has soured, markets have destabilised rapidly
- market tensions have eased somewhat but markets remain jittery
- Japan's financial system maintaining soundness as a whole but corporate funding strains worsening
- BOJ will conduct CP, corporate-bond buying operations to ensure corporate funding is smooth
- BOJ won't hesitate to take additional easing steps as needed with close eye on impact of pandemic on economy
- BOJ will keep in place system to continue to maintain financial functions, smooth fund settlement
Yen is a few ticks weaker. It should be zero surprise that Kuroda reiterates his commitment to easy policy.
