TOKYO, May 26 (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Tuesday it may be hard for life to return to pre-coronavirus pandemic ways even after the virus is contained, as the hit from the health crisis on global travel and service activity may persist.
“The pandemic may lead to changes in a country’s industrial structure and people’s behavior … It may be hard for things to return to ways before the pandemic hit,” Kuroda told parliament.
He also said projections by the BOJ’s board show that Japan likely won’t slide into deflation, as defined as a sustained period of price falls, nor see a marked pick-up in inflation in coming years. (Reporting by Leika Kihara; Editing by Chris Gallagher)
Source: Read Full Article