TOKYO (Reuters) – The Bank of Japan expects the country’s economy to continue expanding moderately but it must keep an eye out on how the coronavirus outbreak could affect production and inbound tourism, a senior central bank official said on Friday.
The economy may have contracted sharply in October-December due to slowing overseas demand, the hit to consumption from last year’s sales tax hike and a string of natural disasters, BOJ Executive Director Eiji Maeda told parliament.
“Japan’s economy is expected to continue expanding moderately as a trend. But we need to be vigilant against various risks such as the impact the coronavirus outbreak could have on output and spending by inbound tourists,” he said.
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Source: Economy - investing.com
