Japan govt will swiftly implement emergency steps to counter coronavirus

Japan's economy minister Nishimura is scrambling to reassure us after the disastrous GDP data earlier:

• Japan GDP, preliminary for Q4 2019: -1.6% q/q (vs -1.0% expected

And … I reckon worse s to come in Q1 2020.

Comments:

• must watch for impact of coronavirus outbreak on Japan's economy via inbound tourism, supply chain disruption
• must be vigilant against risk coronavirus outbreak may affect Japan's economy via slowdown in global growth, potential market volatility
• govt will swiftly implement emergency steps to counter coronavirus using funds from budget reserves
• govt will take all steps necessary flexibly with eye on virus impact on economy, tourism