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Negative interest rates not meant to help yen exchange rate: Kuroda

BOJ governor grilled on move in Parliament, accused of engaging in a "currency war"
Friday, February 5, 2016 - 05:50

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Mr Kuroda said on Thursday: "By pushing down interest rates and the yield curve, we hope to push down real interest rates so that we can stimulate consumption and investment."

Tokyo

BANK of Japan (BOJ) governor Haruhiko Kuroda was forced onto the defensive on Thursday when he faced a grilling in Parliament over the BOJ's decision to introduce negative interest rates, as market movements wiped out most of the gains seen so far from the controversial move.

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