BOJ pledges to ensure market stability amid coronavirus outbreak

Bank of Japan Governor Haruhiko Kuroda pledged Monday that the central bank will make every effort to ensure stability in financial markets that have been roiled as the new coronavirus spreads worldwide.

Issuing an emergency statement, Kuroda said the BOJ “will closely monitor future developments, and will strive to provide ample liquidity and ensure stability in financial markets through appropriate market operations and asset purchases.”

The move comes amid expectations that the world’s major central banks will prepare a joint assault on the excessive volatility seen recently in stock and other markets, with the U.S. Federal Reserve issuing a similar statement last week that signaled its willingness to cut interest rates to support the economy.

Leave a comment