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9/22, 9:07 AM (Source: TeleTrader)
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Consumption to rebound when virus measures ease - BoJ's Kuroda

Bank of Japan (BoJ) Governor Haruhiko Kuroda (pictured) noted on Wednesday that weaker consumption should be viewed as a result of "cautious" spending behavior prompted by COVID-19 containment measures.

Addressing the press after the BoJ's vote on interest rates in the country, Kuroda predicted that the consumption will increase when the measures ease, especially due to "pent-up demand."

Kuroda dismissed weak wage growth as a potential reason for the decrease in household spending, noting that the rise in wages has "been relatively moderate."

Breaking the News / BU