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Economy

BOJ chief warns 'high degree of uncertainty' amid resurgent COVID

Japan central bank revises down fiscal 2020 GDP to minus 5.5%

Bank of Japan Governor Haruhiko Kuroda warned Thursday that the economy "remained shrouded in a high degree of uncertainty and has significant downside risks." (Photo by Karina Nooka)

TOKYO -- A resurgence of coronavirus infections in Europe and the United States has dampened the Bank of Japan's outlook for the economy, despite a rebound in business activity in recent months.

"The economy remains shrouded in a high degree of uncertainty and has significant downside risks," warned Haruhiko Kuroda, governor of the central bank, in a press conference on Thursday after a two-day policy meeting during which the central bank decided to maintain its ultra-easy monetary policy.

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