March 6, 2018 / 7:16 AM / a year ago

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

Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a lower house budget committee session at the parliament in Tokyo, Japan, February 13, 2018. REUTERS/Toru Hanai

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.

“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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