Japan's Nishimura: Overall GDP to return to pre-coronavirus levels this fiscal year

Japanese Economy Minister Yasutoshi Nishimura said on Friday that he expects the overall GDP growth in Japan to return to pre-coronavirus levels in this fiscal year, as reported by Reuters. 

Additional takeaways

"Private investment and wage rises are key for achieving growth."

"Won't lower the flag of fiscal consolidation."

"Japan's exports and output have returned to pre-coronavirus levels, leading to corporate earnings improvement from last year onward."

Market reaction

The USD/JPY pair showed no immediate reaction to these comments and was last seen losing 0.12% on the day at 110.07.