February 5, 2018 / 4:51 AM / 7 months ago

BOJ Kuroda repeats need to maintain ultra-easy policy

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank must maintain its ultra-loose monetary policy as inflation remained distant from its 2 percent target.

Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan January 23, 2018. REUTERS/Kim Kyung-Hoon

While prolonged easing has yet to trigger excess risk-taking by investors, it was adding to strains for regional banks, already suffering from narrowing margins due to an ageing population, Kuroda told parliament.

“Still, it’s extremely important to achieve our 2 percent inflation target,” Kuroda said. “Japan’s inflation remains distant from our target, so we need to patiently continue with powerful monetary easing.”

Reporting by Leika KiharaEditing by Chang-Ran Kim

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