Wednesday, 20 October, 2021

BOJ policymaker warns of growing risks to Japan’s economic recovery

TOKYO: Bank of Japan board member Goushi Kataoka said on Thursday the coronavirus pandemic may weigh on the economy longer than initially expected, warning of heightened risks to the central bank’s forecast of a moderate, export-driven recovery.

Kataoka also stressed the BOJ’s readiness to ramp up stimulus if needed, reinforcing market expectations Japan would lag other countries in exiting crisis-mode policies, report agencies.

“Given recent domestic and global economic developments, the need for bolder steps is heightening,” Kataoka told a briefing.