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Kuroda Sits Tight as BOJ Monitors Economy Move Beyond Worst

  • Central bank sees economy shrinking 4.7% in fiscal 2020
  • Economists see main stimulus stretching further into future
Bank of Japan Governor Haruhiko Kuroda News Conference As Central Bank Ramps Up Asset Buying, Holds Rates Steady After Fed Cut
Photographer: Kiyoshi Ota/Bloomberg
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Bank of Japan Governor Haruhiko Kuroda said Japan’s economy was past the worst, but warned the recovery would be slow, adding that he remains ready to take further action if needed.

His comments came after the BOJ left its interest rates and asset purchases untouched earlier Wednesday and released updated forecasts. The latest projections point to a deeper slump this year, followed by a slightly faster pickup in the next two years, though the recovery will still be drawn out.