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MNI BRIEF: Closer Watch Needed on Financial System: BOJ Kuroda

TOKYO (MNI)

The Bank of Japan must keep a closer watch on both intermediation and the wider financial system Governor Kuroda told lawmakers Wednesday, as low interest rates will likely be in place for a prolonged period.

Kuroda said banks' profitability is falling, weighed by lower rates and a decreasing client base and the population falls and the number of firms shrinks. He added that the BOJ must watch financial intermediation on a real time basis at the quarterly meetings when the BOJ releases its outlook report, charging bank staff in charge of financial system to report developments.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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