TOKYO : Bank of Japan board member Toyoaki Nakamura warned of risks to the economic outlook from a recent resurgence in COVID-19 infections, but signalled hope that consumption will get a boost once households feel safe to start spending.
The outlook was"highly uncertain" with risks skewed to the downside, the former corporate executive said, as state of emergency curbs to combat the pandemic hurt retailers. "The resurgence in infections may have somewhat delayed the timing for when pent-up demand materialises," he said in a speech on Wednesday, adding there was a chance economic activity may strengthen more than expected once the pandemic's impact eases.
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