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Bank of Japan chief says market moves 'very unstable'

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Bank of Japan (BOJ) governor Haruhiko Kuroda said on Tuesday global financial markets were "very unstable" and the economic impact of the coronavirus outbreak could turn out to be big.

[TOKYO] Bank of Japan (BOJ) governor Haruhiko Kuroda said on Tuesday global financial markets were "very unstable" and the economic impact of the coronavirus outbreak could turn out to be big.

Mr Kuroda also told Parliament that the central bank had bought a cumulative 2.04 trillion yen (S$27.39 billion) worth of exchange-traded funds (ETF) since October last year.

Under a policy dubbed yield curve control, the BOJ guides short-term interest rates at -0.1 per cent and the 10-year government bond yield around zero per cent. It also buys risky assets such as ETFs as part of its massive stimulus programme.

REUTERS