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The Bank of Japan (BoJ) will ease without hesitation if needed, BoJ Governor Kuroda told the G7 at today’s meeting. 

“The IMF’s view global economy to recover in the latter half of this year is a view worth taking into account,” Kuroda added.

Meanwhile, Japanese Finance Minister Taro Aso reiterated that it’s important for the international community to provide financial and technical assistance to emerging economies battling with coronavirus.

“There’s no doubt the global economy will come under pressure from coronavirus pandemic,” Aso said. “G7 agreed on the need to provide financing support to developing countries dealing with debt problems.

Market reaction

The USD/JPY pair largely ignored these comments and was last seen trading at 107.30, erasing 0.42% on a daily basis.