Bank of Japan to take monetary easing steps once more if economy worsens

Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday that it would ease monetary policy once more if the country’s if the coronavirus-hit economy worsened.

As Japan’s government works to limit the spread of the virus as well as aid businesses affected by the outbreak, the Bank of Japan has taken up the role to prevent credit markets and dollar funding from exhausting. “If the economy worsens further, we will take additional monetary easing steps,” Kuroda told parliament.

The Bank of Japan had eased policy earlier after an emergency meeting on Monday. The move is part of a combined effort from other central banks around the world in softening the global economic impact of the virus.