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5/13, 3:52 AM (Source: TeleTrader)
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BoJ's Kuroda: Economy picking up but situation still severe

Bank of Japan (BoJ) Governor Haruhiko Kuroda (pictured) said that the country's economy was picking up as a trend, but warned that the situation was still severe.

Speaking in the National Diet, Kuroda noted that face-to-face services are still threatened, particularly with the latest emergency measures instated to help curb the pandemic. Thus, he asserted that uncertainty in the Japanese economic outlook definitely exists and that economic activity is expected to remain below the pre-pandemic level for the time being.

Kuroda's comments are in line with the BoJ's policy meeting summary, which was released earlier this week, and he also reiterated the central bank's statement that powerful monetary easing will continue to help struggling economic sectors.

Breaking the News / OL