Haruhiko Kuroda: Japan's economy and monetary policy

Speech (via webcast) by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at a meeting with business leaders, Nagoya, 4 November 2020.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

It is my great pleasure to have the opportunity today to exchange views with a distinguished gathering of business leaders in the Chubu region. I would like to take this chance to express my sincerest gratitude for your cooperation with activities of the Bank of Japan's Nagoya Branch. The biggest issue since the last time we met one year ago is the novel coronavirus (COVID-19) pandemic, which has been widely affecting economic and financial activities, as well as social life. Actually, given the impact of COVID-19, it has been decided that this year's meeting will be held online.

Today, while outlining the Outlook for Economic Activity and Prices (Outlook Report) released last week, I would like to explain the Bank's view on Japan's economic activity and prices, which have been affected by COVID-19, and its thinking behind the recent conduct of monetary policy