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The Bank of Japan (BOJ) will continue supporting the economy in cooperation with the new government, said the Governor Haruhiko Kuroda in an online seminar hosted by the Asian Development Bank (ADB) on Friday.

Key quotes

“Globalization would not be stopped or reduced because of COVID-19.”

“Resorting to protectionism in wake of COVID-19 would be riskier for each economy.”

“Global supply chains will be more diversified and more resilient after COVID-19.”

“Regional financial cooperation would be quite important in the coming years, provide a  good safety net for future crisis.”

“Japan’s economy will likely follow an improving trend. But the pace of improvement will only be moderate as the impact of COVID-19 remains worldwide.”