November 13, 2019 / 1:10 AM / 3 months ago

BOJ's Kuroda dismisses view Japan's policies linked to MMT

FILE PHOTO: Bank of Japan (BOJ) Governor Haruhiko Kuroda, speaks during an interview with Reuters in Washington, U.S. October 19, 2019. REUTERS/Carlos Jasso/File Photo

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Wednesday there is no truth that Japan’s fiscal and monetary policy is linked to “Modern Monetary Theory” (MMT), an idea floated by some U.S. academics to print money unlimitedly to bank-roll government debt for fiscal spending.

“The Bank of Japan buys government bonds to create an appropriate shape for the yield curve and achieve its inflation target,” Kuroda told parliament.

“It’s not true that Japan’s fiscal and monetary policies are guided on the basis touted by MMT,” he said.

Reporting by Leika Kihara; Editing by Chris Gallagher

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