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BOJ’s Kuroda: Household spending remains weak due to coronavirus measures
Reuters reports that the Bank of Japan kept monetary policy steady on Wednesday but offered a bleaker view on exports and output, reinforcing expectations the bank will maintain its massive stimulus.
Following are excerpts from BOJ Governor Haruhiko Kuroda's comments at his post-meeting news conference:
"We don't need to project a clear slowdown in U.S., Chinese growth… We expect external demand to remain solid.
"While the corporate sector remains solid, consumption isn't picking up.
"It's not because households lack income. It is more due to the pandemic keeping them from boosting spending… As the pandemic subsided, consumption is expected to strengthen."
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