(Bloomberg) -- Bank of Japan Governor Haruhiko Kuroda signaled growing concern over coronavirus, now saying the bank won't hesitate to take action to cope with the virus's economic impact if it becomes necessary.
Kuroda's remarks in Japan's parliament Tuesday contrasted with comments last month when he said it was too early to assume the latest viral outbreak would pose as big a threat as the 2003 SARS contagion.
Hong Kong Death Reported as China Cases Top 20,000: Virus Update
With a rising death toll, thousands ill and much of China's economy locked down, Kuroda sounded a more anxious tone. He said China's size and importance in global supply chains now make any risks to its economy an issue for other economies including Japan's.
Kuroda's heightened concern comes as private sector economists ratchet up forecasts for the virus's disruptive potential. Bloomberg economist Yuki Masujima says Japan's economy could take a 0.5 percentage point hit from the virus in a worst-case-scenario, compared with a 0.1 point estimate just a week ago.
To contact the reporter on this story: Yuko Takeo in Tokyo at ytakeo2@bloomberg.net
To contact the editors responsible for this story: Paul Jackson at pjackson53@bloomberg.net, Jason Clenfield
©2020 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
