Kuroda repeating the usual mantra here
- If it takes long to contain the virus, it could have severe impact on the economy
- Japan will eventually see a recovery from the virus impact
- What is happening now is different from Lehman crisis
- Firms may face funding strains via drop in demand, output
- Says that economy can stage a V-shaped recovery
Meanwhile, you have Japanese finance minister Aso saying that a V-shaped recovery cannot happen unless there is a cure for the virus. ¯\_(ツ)_/¯
Anyway, back to the BOJ. They have very limited policy tools at their disposal at this stage that alleviating liquidity and funding strains is arguably the best that they can do.
Just keep buying them ETFs.
