February 14, 2017 / 2:17 AM / 6 months ago

BOJ Kuroda says global yield rises alone won't trigger rate hike

Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan January 31, 2017.Toru Hanai

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank will not change its bond yield targets just because global long-term interest rates are rising.

"Our monetary policy is conducted solely for the purpose of pulling Japan's economy out of deflation and achieving our 2 percent inflation at the earliest date possible," Kuroda told parliament.

Under a new policy framework adopted in September, the BOJ now guides short-term interest rates at minus 0.1 percent and the 10-year government bond yield around zero percent.

Reporting by Leika Kihara; Editing by Chris Gallagher

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