Forex Market In Need To Break Ranges – Forex Factory

From @DailyFXTeam|2 hr 47 min ago

tweet at 9:10pm: BOJ GOV KURODA: – Global economy rapidly worsening due to virus, Japan expected to remain in ‘severe’ situation – Uncertainty extremely high for economic outlook, financial markets still nervous #USDJPY #BOJ tweet at 9:07pm: BoJ Gov Kuroda: Risks To Japan’s Economic Outlook Skewed To DownsideStatement by Kuroda concerning the BOJ’s Semiannual Report on Currency and Monetary Control The Bank of Japan submits to the Diet its Semiannual Report on Currency and Monetary Control every June and December. I am pleased to have this opportunity today to talk about recent economic and financial developments and present an overall review of the Bank’s conduct of monetary policy. I. Economic and Financial Developments I will first explain recent economic and financial developments. The global economy has become depressed rapidly, reflecting the impact of the novel coronavirus (COVID-19) pandemic. Economic activity has been disrupted significantly worldwide as a result of preventive measures against the spread of COVID-19 taken by each country and region, such as restrictions on going outside and immigration/emigration. According to the latest World Economic Outlook released by the International Monetary Fund (IMF), the global economy is projected to register large negative growth of minus 3.0 percent for 2020, which is worse than at the time of the global financial crisis. Japan’s economy also has been in an increasingly severe situation due to the impact of the spread of COVID-19 at home and abroad, and for the time being, that is likely to remain the case. The year-on-year rate of change in the consumer price index (CPI) is expected to be somewhat weak for the time being, mainly affected by the

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