Bank of Japan deputy governor says vigilant against coronavirus impact on global trade

[MATSUYAMA] Bank of Japan Deputy Governor Masazumi Wakatabe said on Wednesday the central bank must scrutinise whether the coronavirus outbreak would affect its forecast that global trade and capital expenditure will pick up later this year.

"There have been heightening uncertainties regarding the impact of the spread of the coronavirus on the global economy," Mr Wakatabe said in a speech to business leaders in Matsuyama, western Japan.

Risks surrounding Japan's economy and prices remain high, Mr Wakatabe said, reiterating that the BOJ will not hesitate to ease monetary policy further if the economy's momentum for hitting the bank's 2 per cent inflation target is threatened.

REUTERS