March 6, 2018 / 5:26 AM / 3 months ago

BOJ Kuroda: Any exit from easy policy will be 'very gradual'

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday any future exit from ultra-loose monetary policy would be “very gradual” to avoid disrupting financial markets.

Bank of Japan (BOJ) Governor Haruhiko Kuroda speaks next to Japan's Deputy Prime Minister and Finance Minister Taro Aso (L) during a financial and monetary committee session at the Lower House of the parliament in Tokyo, Japan, February 16, 2018. REUTERS/Toru Hanai

“Given 2 percent inflation remains distant, it’s inappropriate to talk about an exit strategy now without giving consideration to economic, price and financial developments at the time,” Kuroda told an upper house confirmation hearing.

“When the BOJ exits, it will be a very gradual process ... so as not to trigger a spike in long-term interest rates or a disruption in financial markets,” he said.

Reporting by Leika Kihara and Tetsushi Kajimoto; Editing by Chang-Ran Kim

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