TOKYO -- "People imagine this is like the 2008 Lehman shock, but it's totally different," said a senior official with the Bank of Japan.
Despite the continuing spread of the new coronavirus and the buffeting that global financial markets have taken as a result, an air of cautious optimism fills the corridors of Japan's central bank. The chaos brought on by the largest-ever point drop in U.S. stock prices last week is reminiscent of 12 years ago. But the gloom that prevailed at the BOJ over the scale of the economic slowdown then is not in evidence today.
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