Kuroda warns against damage caused by the Coronavirus

Bank of Japan Governor Haruhiko Kuroda told parliament today that the outbreak of the Corona virus could seriously damage the Japanese economy, adding, "We will carefully monitor economic and market developments and take appropriate measures as needed."

And Kuroda stressed that the bank would not hesitate to ease monetary policy further if the risks threaten the inflation target and clarified that "if the virus hits, it may also affect production, so we have to be aware that the impact caused by the outbreak of the Corona virus may be significant."

Prime Minister Shinzo Abe told the same Parliamentary Committee that the government would take "adequate and necessary" financial steps to address economic threats, and these statements underscore a growing concern among Bank of Japan policy makers about the implications of the Corona Virus as the economy is already suffering from a sales tax hike last year.