BOJ newcomer Nakamura says must 'respond early' to economic risks

TOKYO, July 1 (Reuters) – The Bank of Japan’s new board member Toyoaki Nakamura said on Wednesday the central bank must “respond early” to downside risks that could emerge from the coronavirus pandemic.

In his inaugural news conference, Nakamura also said Japan would not see inflation pick up sustainably unless economic conditions allowed for the central bank to abandon negative interest rates.

A former executive at electronics giant Hitachi, Nakamura joined the BOJ’s nine-member board on Wednesday, succeeding Yukitoshi Funo. (Reporting by Takahiko Wada, writing by Leika Kihara; Editing by Chris Gallagher)

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