March 6, 2018 / 7:56 AM / 18 days ago

BOJ's Kuroda says no plan now to abandon negative rates

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday he had no plan now to abandon negative interest rates, despite the rising cost of the measure including the impact on financial institutions’ profits.

FILE PHOTO: Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan, October 31, 2017. REUTERS/Toru Hanai/File Photo

“We may adjust interest rates in the future depending on price developments. But I don’t have any plan now to raise short-term rates from the current minus 0.1 percent or abandon negative rates,” Kuroda told an upper house confirmation hearing.

Reporting by Leika Kihara and Tetsushi Kajimoto; Editing by Chris Gallagher

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