Uncertainty over Japan's economic outlook is 'extremely high' as the coronavirus pandemic hits output and consumption, central bank Governor Haruhiko Kuroda said, stressing his readiness to take additional monetary steps to prevent a deep recession.
TOKYO - Uncertainty over Japan’s economic outlook is “extremely high” as the coronavirus pandemic hits output and consumption, central bank Governor Haruhiko Kuroda said, stressing his readiness to take additional monetary steps to prevent a deep recession.
“The spread of the coronavirus is having a severe impact on Japan’s economy through declines in exports, output, demand from overseas tourists and private consumption,” he said. The balancing act underscores the difficulty authorities have in trying to contain the outbreak without imposing a mandatory lockdown that could deal a major blow to an economy already struggling to cope with the virus outbreak.
“Looking at things the past week and watching the situation - the rise in patients, the number without any traceable cause - we judged that it was a very dangerous situation and wanted to make preparations,” he told a news conference. Entertainment facility operator Uchiyama Holdings said it was closing 43 karaoke shops and 11 restaurants until May 6.
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