Bank of Japan tempers optimism on global growth

TOKYO: Bank of Japan Governor Haruhiko Kuroda on Friday ruled out the chance of additional monetary easing, even after heightening overseas risks forced the central bank to temper its optimism that robust exports and factory output will support growth.
Kuroda also brushed aside growing calls from politicians and bank executives to raise interest rates or water down the BoJ’s 2 per cent inflation target to ease the strain of prolonged ultra-low rates on financial institutions’ profits. “I don’t see the need to change the target, or believe that doing so would be desirable,” Kuroda told reporters after the BoJ’s widely expected decision to keep monetary policy unchanged.
At the two-day rate review that ended on Friday, the BoJ maintained a pledge to guide short-term rates at minus 0.1 per cent and 10-year government bond yields around zero per cent. — Reuters