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.
World stock markets declined further and oil headed for a double-digit weekly slide on Friday as jitters over a rising global COVID-19 infection rate and next week’s US presidential election more than offset strong euro zone quarterly growth data.
Dubai Electricity and Water Authority (Dewa) maintained its work progress at 100% without recording any electricity or water interruptions for all Dubai residents over the past few months.
According to the World Gold Council’s latest Gold Demand Trends report the global gold demand dropped by 19 per cent year-on-year to 892 tonnes in third quarter of 2020, as consumers continued to feel the impact of the COVID-19 pandemic.
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.