A man walks past the headquarters of Bank of Japan in Tokyo. File/Reuters
The Bank of Japan (BOJ) Governor Haruhiko Kuroda said second-round effects of the coronavirus pandemic could hurt the Japanese economy “considerably”, signalling the bank’s readiness to ramp up stimulus measures again to cushion any blow from the crisis.
The Bank of Japan (BOJ) kept monetary settings steady on Tuesday and stuck to its view that the economy will gradually recover from the coronavirus pandemic, signalling that it has taken enough steps to support growth for now.
The Bank of Japan expanded monetary stimulus on Monday and pledged to buy an unlimited amount of bonds to keep borrowing costs low, as the government tries to spend its way out of the growing economic pain from the coronavirus pandemic.
As the Bank of Japan (BOJ) tries to pump more funds to companies hit by the coronavirus pandemic, it is offering banks hundreds of millions of dollars in bonuses, a move analysts say is aimed at easing the side-effects of its negative interest rate policy.
The US economy grew at a record pace in the third quarter as the government injected more than $3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal.
Aircraft manufacturers are hit by the devastating impact of the coronavirus pandemic on the aviation industry. The number of global commercial aircraft orders was zero during the month of September.
Peugeot manufacturer PSA Group returned to revenue growth in its core autos division in the third quarter, recovering from a slump during coronavirus lockdowns, though the prospect of new restrictions hit French shares.
The Bank of Japan (BOJ) trimmed its economic growth and inflation forecasts for the current fiscal year (2020-21) on Thursday but offered a more upbeat view on the recovery outlook, signalling that it has delivered enough stimulus for the time being.