Some Japanese central bankers called for even bolder steps than those announced at last month's policy decision, a summary of bank views showed on Monday, to prevent the coronavirus triggering an economic slump as bad as the Great Depression.
TOKYO - Some Japanese central bankers called for even bolder steps than those announced at last month’s policy decision, a summary of bank views showed on Monday, to prevent the coronavirus triggering an economic slump as bad as the Great Depression.
“Policymakers must act boldly to avoid the repeat of the Great Depression,” one board member was quoted as saying, adding there was further room to expand fiscal and monetary support. The pandemic has forced businesses to shut down and households to stay home, reinforcing expectations Japan will suffer a deep recession and adding to challenges for the BOJ in battling economic risks with a dwindling tool-kit.
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