TOKYO (Reuters) – 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.
Bank of Japan Governor Haruhiko Kuroda, wearing a protective face mask following an outbreak of the coronavirus disease (COVID-19), attends a quarterly meeting of the Bank of Japan’s regional branch managers in Tokyo, Japan, in this photo distributed by Kyodo April 9, 2020. Mandatory credit Kyodo/via REUTERS ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUT.
While aggressive central bank actions across the globe have eased financial market tensions somewhat, corporate funding strains were worsening, Kuroda told a quarterly meeting of the Bank of Japan’s regional branch managers on Thursday.
“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.
Japan recorded 503 new coronavirus infections on Wednesday – its biggest daily increase since the start of the pandemic – as a state of emergency took effect giving governors stronger leg