TOKYO (Reuters) – Japan is expected to slip into a deep recession this year with the economy set to contract for a third straight quarter in April-June, a Reuters poll showed on Wednesday, as the coronavirus outbreak wreaks havoc on businesses and daily life. FILE PHOTO: A man wearing protective face mask, following an outbreak of the coronavirus disease (COVID-19), walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, March 10, 2020. REUTERS/Stoyan Nenov/File Photo Nearly 80% of economists polled saw the Bank of Japan’s next move to be an easing of monetary policy. About half said it would happen this month, which would follow the BOJ’s easing of corporate funding strains in March to calm markets jolted by the health crisis. The pandemic has disrupted supply chains and severely damaged the tourism sector while social distancing rules to contain the spread of the virus has put an additional burden on economic activity, setting Japan on course for a deep recession. Last month, the Tokyo Olympics were postponed until 2021 as the virus impact worsened, an unprecedented move in the Games’ 124-year modern history. Japanese Prime Minister Shinzo Abe on Tuesday declared a state of… Read full this story
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