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TOKYO (MNI) - Bank of Japan Governor Haruhiko Kuroda warned Tuesday that
the impact of the coronavirus on the global economy may be large and the BOJ
will not hesitate to take appropriate policy.
Kuroda told lawmakers, "We continue to carefully monitor developments of
financial markets around the globe and will not hesitate to take appropriate
"Uncertainty has heightened due to the spread of the coronavirus and
markets remain unstable. The infection is expanding in advanced nations and it
would adversely affect sentiment. We need to be aware of the risk that the
impact of the coronavirus will become large," he added.
The BOJ and other central banks had already taken measures to cope with the
negative impact of the coronavirus.
"The coronavirus has increased uncertainties, which worsened investors'
risk sentiment and then strengthened the yen," the Governor noted.
"We are aimed at achieving the price stability and aren't targeting foreign
exchange rate. But we, of course, are closely watching developments of foreign
exchange rate as it affects economy and prices and we will take appropriate
policy, judging from overall assessment," he said.
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