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TOKYO (MNI) - The Bank of Japan will take appropriate policy action in a
timely manner, continuing to watch developments across the economy and financial
markets, Governor Haruhiko Kuroda said Wednesday, without elaborating as to when
Kuroda told lawmakers, "If the coronavirus is prolonged, it will
(negatively) affect production activity and sentiment," with a chance the impact
could get worse across the quarter.
He added, "The impact of natural disasters (happened in the fourth quarter)
is expected to waken in the first quarter. But Japan's exports and foreign
tourist businesses are already affected (by the coronavirus)," Kuroda said.
A BOJ statement released Monday said "Global financial and capital markets
have been unstable recently with growing uncertainties about the outlook for
economic activity due to the spread of the novel coronavirus."
"The Bank of Japan will closely monitor future developments, and will
strive to provide ample liquidity and ensure stability in financial markets
through appropriate market operations and asset purchases," it added.
The Federal Reserve on Tuesday made a surprise 50bps rate Tuesday, just
hours after an extraordinary G7 call ended without explicit coordinated action.
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