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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
Friday, February 19, 2016 - 05:50

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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