BOJ cautions of economic risks as COVID-19 lingers

25.08.2021 - Korneychuk Evgeniya
BOJ cautions of economic risks as COVID-19 lingers

Bank of Japan board member Toyoaki Nakamura had cautioned the country about the latest surge in COVID-19 infections’ impact to the economy. However, he expressed optimism that demand would pick up once consumers felt comfortable enough to start spending.

Japan will recover once the pandemic’s blow to economy diminishes and as a strong global demand, in addition to  increased capital spending contribute to the growth, Nakamura said.

However, he noted that the outlook remained “highly uncertain” as pandemic restrictions continued to hit retailers.

Nakamura expressed confidence that once vaccines are completed, consumption will be boosted by pent-up demand, citing Japan’s record cash and bank holdings of 1,056 trillion yen ($9.61 trillion).

Economists projected a slow growth this quarter as restrictions weighed down family spending.

Japan mulls expanding a state of emergency to eight additional provinces, bringing the total to 21.

 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?