Insight - Big data may help BoJ guide economy thru’ crisis

Slow recovery: Kuroda taking a question during a news conference at the central bank’s headquarters in Tokyo recently. Kuroda said Japan’s economy was past the worst, but warned the recovery would be slow, adding that he remains ready to take further action if needed. — Bloomberg

TOKYO: Big data is providing some surprising results for the Bank of Japan (BoJ) and helping ease concerns about pressure on the economy during the coronavirus pandemic, which could influence the way the BoJ manages the world’s most radical monetary stimulus.

By tapping data provided by Google showing people’s movement via mobile phones, the BoJ found that households’ discretionary spending rebounded faster and more vividly in Japan than in other countries after lockdown steps were lifted in May.