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BOJ not considering changing interest paid on excess reserves

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Bank of Japan Governor Haruhiko Kuroda said on Tuesday he is not considering lowering or cancelling the interest that the central bank pays on excess reserves that commercial banks keep at the BOJ.

[TOKYO] Bank of Japan Governor Haruhiko Kuroda said on Tuesday he is not considering lowering or cancelling the interest that the central bank pays on excess reserves that commercial banks keep at the BOJ.

Mr Kuroda, speaking before the upper house financial affairs committee, said these interest payments help the BOJ meet its goal of expanding the monetary base.

REUTERS