The Bank of Japan's Governor Kuroda said in a speech that while the digitalization advanced by the corona wreck boosts productivity and benefits the economy, it should be noted that the fruits of growth will be concentrated in some areas and inequality will increase. I pointed out that.
On the night of the 24th, Governor Kuroda attended an online conference of the Bank of Japan, inviting participants from overseas central banks and international organizations, and gave a lecture in English.
Among them, Governor Kuroda said that "the economic structure such as technology and industry is changing" due to the corona virus, and "the rapid expansion of digitalization is expected to lead to improvement in productivity and bring benefits. ".
On the other hand, he pointed out, "If the fruits of growth are concentrated in some areas and inequality increases, it may be difficult to achieve comprehensive economic growth."
In addition, Governor Kuroda said that the center of gravity of the policy will shift from emergency measures such as support for financing future policy issues to more structural measures such as debt repayment ability and corporate viability.
He added that "the economic inequality that became more apparent in this crisis and the response to climate change, which has recently been controversial worldwide, will be added to the challenges." He pointed out that correction and response to climate change are also issues that central banks should consider.