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11/24/2020, 1:18 PM (Source: TeleTrader)
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We must ensure economic stability to combat crisis - BoJ's Kuroda

Governor of the Bank of Japan (BoJ) Haruhiko Kuroda stressed on Tuesday the importance of ensuring "the stability of the economy and the financial system by continuing steadily with the responses" to combat the economic crisis caused by the coronavirus pandemic.

Kuroda praised the measures central banks and governments had taken to alleviate the crisis, which he described as having a larger impact than the downturn of 2008–09, especially the "coordination of fiscal and monetary policies, implemented to stabilize the economy and the financial system." Kuroda also called for strengthening international financial institutions, stressing their role in battling global crises.

"Facing such an uncertain future, international cooperation is increasingly important in tackling these challenges. Now more than ever, it is essential to share the knowledge we have gained and make progress in cooperation with each other," he concluded.

Breaking the News / JR