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Japan pledged to take “bold and unprecedented” measures in order to combat the economic impact of the coronavirus, according to its economy minister. The statement has led many to believe the Japanese government would unveil a large-scale stimulus package in the future as a move to fight off a recession.
Any fiscal package would gain support by the Bank of Japan (BOJ) which is expected to ease policy next week in order to bolster business confidence in the country.
"We'll watch market moves with a stronger sense of urgency and act accordingly based on the G7 agreement," top currency diplomat said after a Friday meeting with the BOJ and the Financial Services Agency.
The statement came at the start of a G7 conference call, which established the group’s commitment to work together in fending off the virus' impact.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
KYC Policy