July 29, 2020 / 6:01 AM / 12 days ago

BOJ Amamiya says Japan's economy recovering from pandemic damage

TOKYO, July 29 (Reuters) - Bank of Japan Deputy Governor Masayoshi Amamiya said on Wednesday the economy was shifting towards a recovery from the devastating damage caused by the COVID-19 pandemic, thanks in part to aggressive monetary and fiscal steps taken so far.

“We need to mindful of the chance corporate spending plans may be slashed if uncertainty over the pandemic continues. But for now, companies’ spending plans remain firm when compared with sharp falls in their profits,” Amamiya said in a speech at the Japan National Press Club. (Reporting by Leika Kihara; Editing by Chris Gallagher)

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