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BOJ not engaging in currency war with negative rates: Kuroda
[TOKYO] Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank was not engaging in a currency war by adopting negative interest rates, saying that the move isn't intended to weaken the yen.
"As with the Federal Reserve, the European Central Bank or any other major central bank, the BOJ doesn't target exchange rates in guiding monetary policy," Mr Kuroda told parliament. "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," he said.