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The Bank of Japan (BoJ) is ready to ease its monetary policy without hesitation if needed, BoJ Governor Kuroda said on the sidelines of a conference in Riyadh on Saturday but added that their view of Japanese economy recovering moderately hasn’t changed yet.

“There is a lot of uncertainty over the impact of coronavirus impact but I don’t think Japan’s economy will slump sharply,” Kuroda further noted. Regarding the heightened volatility in foreign exchange markets, Kuroda argued that the movements were a product of broad USD strength and said he wasn’t expecting to see a big change in FX trends.