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Bank of Japan Governor Haruhiko Kuroda on Wednesday repeated his optimistic view on the outlook for economic recovery.
"If Japan can simultaneously protect public health and improve consumption activities through the use of vaccination certificates, for example, the economic recovery trend is very likely to become more pronounced, even in the services sector, also supported by the materialization of pent-up demand," Kuroda said at the 58th Japan-U.S. Business Conference via a webcast.
"The rise in the unemployment rate has been modest relative to the decline in economic activity. Although the rate has increased from the pre-pandemic level of around 2.5%, it remains low at around 3%."
"Many Japanese firms have essentially maintained their labor, supply-side constraints in Japan have not been as severe as in the U.S., and there has been no pressing need for firms to raise wages and selling prices," Kuroda said, see: MNI INSIGHT: Tankan Supports BOJ Econ Views; High Costs Eyed.
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