- BoJ's governor Kuroda: Beginning to see light at the end of the pandemic tunnel but light does not clearly reveal the shape of the society and economy we are approaching
Market news
24 May 2021
BoJ's governor Kuroda: Beginning to see light at the end of the pandemic tunnel but light does not clearly reveal the shape of the society and economy we are approaching
- Unevenness of recession, ongoing recovery could reinforce increase in savings, inequality, and debt
- The initial phase of policymakers' crisis response was to provide liquidity support but this will likely change to fixing solvency and corporate viability problems
- Policymakers face additional challenges of addressing economic inequality and increasing worldwide concerns over climate change
- The nature of policy responses will also shift from temporary first aid measures to medium- to long-term structural policies
- Advances in digitalization are expected to enhance productivity and benefit wide range of individuals and firms
- If growth is concentrated in a small fraction of society and inequality increases, difficult to achieve inclusive economic growth
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