Kuroda: Better for central banks to stagger their normalisation moves

Tokyo

BANK of Japan governor Haruhiko Kuroda has defended what he has called the "non-synchronised" conduct of monetary policy by the world's four largest central banks, even as he insisted that Japan's economic recovery and its central bank's inflation target both remained on track.

He said in an interview with the newspaper, Emerging Markets: "The Fed and the Bank of England have already started the (process of) normalisation, whereas the European Central Bank and the Bank of Japan continue their (accommodative) policies, reflecting differences in their economic situation.