BOJ’s Kuroda warns second-round effect of COVID-19 may dent economic growth

first_img“At this moment, we didn’t see the need to further lower the entire yield curve. Of course, if necessary we will do that. But now, we don’t think it’s necessary,” he said.The BOJ eased policy in March and April, mainly by boosting asset buying and creating lending schemes to channel funds to companies hit by the pandemic. It has kept its interest-rate targets unchanged.Kuroda said he was “cautiously optimistic” that Japan’s economy will gradually recover from the second half of this year, allowing the BOJ to scale back its crisis-response steps.“Once the impact of COVID-19 on the economy has subsided, the economy starts to recover and comes back to a normal growth path, then of course our extraordinary measures may be gradually curtailed,” Kuroda said.“But then, we have to achieve our 2 percent inflation target,” he said. “That’s unlikely to be met in the short run. The BOJ’s expanded balance sheet would not be normalised until 2 percent inflation is achieved.”Under yield curve control, the BOJ guides short-term rates at -0.1 percent and long-term yields around zero. It also introduced several crisis-response tools, including a lending facility to ease funding strains that expires in March next year.Topics : Bank of Japan (BOJ) Governor Haruhiko Kuroda said second-round effects of the coronavirus pandemic could hurt the Japanese economy “considerably”, signalling the bank’s readiness to ramp up stimulus measures again to cushion any blow from the crisis.But in an online seminar on Friday Kuroda said the central bank saw no immediate need to cut interest rates, and instead will focus on easing corporate funding strains and stabilising markets with its lending facility and asset purchases.“Japan’s economy has been in an extremely severe situation … In the second quarter, we’ll likely see considerable negative growth,” Kuroda said.last_img read more

Dozens of Mexican centenarians beat coronavirus

first_imgExperts agree that the elderly are at greater risk of dying from the coronavirus, but in Mexico dozens of centenarians have beaten the odds and overcome the disease, authorities say.While the Latin American country has registered 53,000 deaths from the virus, the survivors include at least 53 people between the age of 100 and 118.Two more are at home fighting the illness just over a week after developing symptoms. In total 78 centenarians have been diagnosed with COVID-19 in Mexico, of whom 23 have died, according to official figures.One of the most surprising cases was that of a 118-year-old man from the southeastern state of Tabasco who started showing symptoms last month.He had none of the underlying conditions linked with increased risk of death from the virus and required little medical treatment.Topics :last_img read more

Would you buy a house next to a cemetery?

first_imgThe home has character features including timber floors and VJ walls.“They treat the cemetery like a park and it is very well looked after these days. “For buyers, this is an opportunity to buy in to inner-city living on a big block of land at an affordable price.” The home at 63 Frederick St was built in 1935 and has timber floors, VJ walls and high ceilings. There is a separate living area, a dining room opening to the back patio, and a kitchen with walk-in pantry and gas cooking. The kitchen at 63 Frederick St, Toowong.There is a covered veranda at the front of the home and plenty of entertaining space at the back.Ms Healy said she was only selling because she was moving away from Brisbane.“I’ve really loved living in Toowong,” she said. “It is a great location 15 minutes’ walk to the Regatta, close to buses and the city.” The home at 63 Frederick St, Toowong, is across the road from Toowong Cemetery. Photo: SUPPLIEDIF ghost stories and gravestones don’t deter you, this 1930s Queenslander in Toowong could be an affordable entry in to the inner city market. The renovated three-bedroom home is on a double block across the road from Toowong Cemetery. Owner Maria Healy has lived in the house at 63 Frederick St since 2003 and in that time she hasn’t experienced a single spine tingle, undead visitor or unexplained event. Even on Halloween, she isn’t the slightest bit concerned about her silent neighbours. The home at 63 Frederick St, Toowong, is on a double block.More from newsParks and wildlife the new lust-haves post coronavirus1 day agoNoosa’s best beachfront penthouse is about to hit the market1 day ago“There is always a lot of people in there, either tending the graves or walking their dogs. There are even a couple of water stations for the dogs to have a drink.” Marketing agent Byrony O’Neill said most buyers weren’t put off by the heritage-listed cemetery. “A lot of people make jokes about quiet neighbours or it being the dead centre of town but they don’t seem to mind it,” she said. The view of Brisbane city from the top of Toowong Cemetery.“I actually love that I live across the road from so much history,” she said. Ms Healy said Frederick St residents saw the well-maintained cemetery as a bonus. It is a large green space with city views, lots of trees and plenty of walking paths. It is also next to Anzac Park and the Mount Coot-tha Botanic Gardens. “I’ve got a two-year-old dog and we go for a walk through the cemetery several times a week, as do my neighbours,” Ms Healy said.last_img read more