June 8, 2020 / 12:31 AM / a month ago

Japan's economy minister warns against premature fiscal, monetary steps to stimulate demand

TOKYO, June 8 (Reuters) - Japan’s Economy Minister, Yasutoshi Nishimura, said it was premature to deploy fiscal and monetary steps directly aimed at stimulating demand, as the country seeks to re-open its economy without sparking another wave of coronavirus infections.

“What’s most important now is to protect jobs and help businesses survive the pandemic,” Nishimura told Reuters in an interview on Saturday.

“We’re not at a stage yet where we want to stimulate consumption and encourage people to travel a lot. Efforts to stimulate consumption should wait a bit more,” he said. (Reporting by Kaori Kaneko and Leika Kihara; additional reporting by Hiroko Hamada Editing by Chang-Ran Kim)

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