Bank of Japan Gov. Haruhiko Kuroda said on Thursday the economy was starting to pick up and was likely to continue recovering thanks in part to the boost from fiscal and monetary stimulus measures.
While consumer prices will fall for the time being due to the impact of slumping oil prices, they are likely to rebound thereafter as the pandemic's fallout on the economy eases, he said.
"Once the impact of the coronavirus pandemic subsides globally, Japan's economy is likely to continue improving further as overseas economies resume steady growth," Kuroda said in a speech to a quarterly meeting of the BOJ's branch managers.