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BOJ's Adachi says must keep easy policy to guard against bankruptcies

TOKYO, Nov 12 (Reuters) - Bank of Japan board member Seiji Adachi said on Thursday the central bank must maintain its massive stimulus programme, as corporate bankruptcies could increase if the economy takes longer to recover from the coronavirus pandemic’s hit.

“In the medium- to long-term, maintaining accommodative financial conditions will provide the foundations for normalising economic activity and achieving our inflation target,” Adachi said in a speech delivered online to business leaders in Nagano, eastern Japan. (Reporting by Leika Kihara Editing by Chang-Ran Kim)

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