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CHINA RATES

China Repo Rates Diverge On Monday

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Bank of Japan Governor Haruhiko Kuroda on Thursday stuck to the view on a rebound for the economy and current monetary policy at a quarterly branch managers' meeting.

"Japan's economy has picked up as a trend," although it has remained in a severe situation, Kuroda said, adding the economy is likely to recover and it is projected to continue growing with a virtuous cycle from income to spending intensifying.

As for inflation rate, Kuroda said that core consumer price index is expected to turn slightly positive and likely to increase gradually. The assessment was upgraded from the previous meeting in July, when the core CPI is expected to be at around zero percent in the short run, but the view was unchanged from the assessment at the September policy meeting.

"For the time being, the BOJ will closely monitor the impact of Covid-19 and will not hesitate to take additional easing measures if necessary, and also it expects short- and long-term policy interest rates to remain at their present or lower levels," Kuroda said.