March 15, 2023 02:44 GMT
MNI BRIEF: BOJ's Kuroda Monitoring SVB Fallout On Econ, Mkts
Outgoing Bank of Japan Governor Haruhiko Kuroda said on Wednesday that the BOJ continues to carefully monitor the impact of the collapse of Silicon Valley Bank on financial markets.
Kuroda told lawmakers that market players are relieved at the quick decisions by U.S. authorities to avoid systemic risk caused by the SVB collapse.
Kuroda, whose term ends on April 8, also said that the easy policy played a big role in Japan’s economy as the economy is no longer in a deflationary situation.
He also said the BOJ needs to maintain easy policy but the bank will address the side-effects of easy policy appropriately, although the BOJ had already taken measures to mitigate the side-effects.
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