Bank of Japan ready to do more for economy

Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank may take more steps to cushion the economic impact from the coronavirus pandemic, maintaining his gloomy outlook even as a state of emergency was lifted in Tokyo.

His remarks come days after the BoJ unveiled its own version of the US Federal Reserve’s “Main Street” lending programme to channel funds to small businesses hit by the virus. Kuroda, however, said it would be difficult for the BoJ to directly take on any losses financial institutions incur from loans that go sour as a result of the fallout from the pandemic.