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BOJ's Kuroda says policy review won't lead to weakening stimulus

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Bank of Japan Governor Haruhiko Kuroda said on Tuesday that the central bank's planned review of its monetary policy next month will not lead the BOJ weakening its stimulus.

[TOKYO] Bank of Japan Governor Haruhiko Kuroda said on Tuesday that the central bank's planned review of its monetary policy next month will not lead the BOJ weakening its stimulus.

"I don't think that would happen," Mr Kuroda said when asked by reporters whether the promised "comprehensive review" might lead to a shrinking of the BOJ's stimulus.

Mr Kuroda declined to comment on daily market moves after bond yields spiked on speculation that the review might curb the central bank's massive stimulus, in which it buys the bulk of fresh debt issued by the government.

He was speaking after meeting with Finance Minister Taro Aso and discussing Tuesday's approval by Prime Minister Shinzo Abe's cabinet of 13.5 trillion yen (S$172.64 billion) in fiscal measures in a stimulus package aimed at reviving flagging growth in the world's third-largest economy.

REUTERS