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Kuroda defends Bank of Japan's controversial move

Central bank chief argues that benefits of negative interest rates will spread steadily through economy

Mr Kuroda rejected criticisms that the introduction of negative rates on part of banks' excess reserves amounts to a signal that quantitative and qualitative monetary easing has reached its limit.


BANK of Japan (BOJ) governor Haruhiko Kuroda on Thursday defended before parliament the controversial decision taken recently by a narrow majority of the BOJ's Policy Board to introduce negative interest rates in Japan, arguing that the benefits of the move will spread steadily

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