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Bank of Japan's Funo says may keep current ultra-low rates beyond spring 2020

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Bank of Japan board member Yukitoshi Funo said on Wednesday the central bank's forward guidance leaves room for it to maintain current ultra-low interest rates beyond the spring of 2020.

[HIROSHIMA] Bank of Japan board member Yukitoshi Funo said on Wednesday the central bank's forward guidance leaves room for it to maintain current ultra-low interest rates beyond the spring of 2020.

"Given price growth and inflation expectations aren't heightening much, it's necessary to maintain sufficiently low rates for a prolonged period to achieve the BOJ's price target," Mr Funo said in a speech to business leaders in Hiroshima, western Japan.

In April, the BOJ put in place new forward guidance that pledges to keep interest rates at current ultra-low levels at least until around the spring of next year.

REUTERS