Most Japanese corporations were disappointed by the government’s $1 trillion stimulus plan to mitigate the economic fallout from the coronavirus outbreak, saying it is insufficient, and many complained it was too little, too late, a Reuters poll showed.
Tokyo and Japan’s central government have resolved a high-profile feud over what businesses should shut down during a month-long emergency to fight the new coronavirus, the city’s governor said, clearing the way for an announcement on Friday.
Uncertainty over Japan’s economic outlook is “extremely high” as the coronavirus pandemic hits output and consumption, central bank Governor Haruhiko Kuroda said, stressing his readiness to take additional monetary steps to prevent a deep recession.
Japanese Prime Minister Shinzo Abe is set to announce a state of emergency on Tuesday for the capital Tokyo and six other prefectures to stem a worrying rise in coronavirus infections in major population centres.
The Japanese government said on Friday it has told regions that have suffered the most serious outbreaks of coronavirus to save hospitals beds for severely ill patients, while keeping others with milder or no symptoms at home or in hotels.