Japan’s Nishimura: Govt will swiftly implement emergency steps to counter coronavirus

Japanese Economy Minister Nishimura was on the wires earlier on Monday, via Reuters, reassuring the markets following awful Q4 growth numbers.

Key Quotes:

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 a 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 an eye on virus impact on the economy, tourism.

• USD/JPY ignores downbeat preliminary figures of Japan Q4 GDP
• Japanese GDP SA (QoQ) Q4 -1.6% (est -1.0%; prev 0.1%; prev 0.4%)