Major global economies have been heavily hit by the coronavirus pandemic, and Japan is no exception. To tackle the coronavirus fallout, Japanese Prime Minister Shinzo Abe pledged to take unprecedented steps to support the economy. The Prime Minister said he would cooperate with the Bank of Japan and introduce further economic measures as needed. The government has unveiled a stimulus package that may include cash payouts to households and subsidies to companies affected the most by the outbreak. Besides, the BOJ is widely expected to ease its monetary policy following the example if its peers in the US and UK. On Monday, the regulator signaled it would inject liquidity into markets and hinted at greater asset purchases in an emergency statement on the coronavirus. Following the emergency meeting with the prime minister, Bank of Japan Governor Haruhiko Kuroda announced: “The Bank of Japan 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.“
