World News

Bank of Japan’s Amamiya says virus inflicting huge damage on global economy

TOKYO (Reuters) – Bank of Japan Deputy Governor Masayoshi Amamiya said on Thursday the coronavirus outbreak has inflicted huge damage on the world economy, and the impact is likely to last for some time as the epidemic is spreading across the globe.

Amamiya said the BOJ’s emergency government bond purchases and dollar-supplying market operations are helping ease market jitters to some extent.

“The BOJ will take additional monetary easing steps without hesitation,” with a close eye on how the epidemic could affect Japan’s economy and prices, Amamiya told parliament.

(Reporting by Leika Kihara; Editing by Chris Gallagher)