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MNI BRIEF:BOJ Kuroda: Virtuous Cycle Still Backs Japan Economy

TOKYO (MNI)

Bank of Japan Governor Haruhiko Kuroda on Thursday said that a virtuous cycle in the corporate sector continues to support the improvement of the overall economy, although the household sector is weak.

"As for the outlook for Japan's economy, a recovery is expected to become clearer as the impact of coronavirus will wane gradually," Kuroda said at the general meeting of Japan Securities Dealers Association, see: MNI: Japan Aug Industrial Output -3.2%, September View Weaker.

Kuroda maintained that private consumption will recover, supported by pent-up demand, due to the progress of the vaccine rollout. However, he warned the timing and pace of recovery depends on the course of the pandemic and the outlook for spending is uncertain. Kuroda added that the BOJ will not hesitate to take additional easing measures if necessary.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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