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Bank of Japan lowers 2020 GDP estimate 0.1 percentage point

BOJ chief bullish on vaccination progress and economic recovery

TOKYO -- Bank of Japan Gov. Haruhiko Kuroda offered a bullish view of the economy on Thursday, saying that COVID vaccinations are expected to make significant headway in both rich and poor countries by early next year, paving the way for an economic recovery.

"The coronavirus will be brought under control, on the assumption that significant progress will be made in vaccination campaigns in developed economies in the first half of this year, and in developing countries by early next year," Kuroda said at a news conference after a two-day policy board meeting. "I will be paying close attention to how quickly the coronavirus is brought under control so that concerns about the economy will be lifted."

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