Bank of Japan’s Kuroda brushes aside chance of interest rate hike

WASHINGTON – Bank of Japan Governor Haruhiko Kuroda said on Thursday raising interest rates now was inappropriate in light of the country’s economic and price conditions.

“Japan’s economy is emerging from the COVID-19 pandemic’s wounds but the pace of recovery is slow compared with countries like the United States,” Kuroda said in a news conference after the G20 finance leaders’ meeting in Washington.

“It’s therefore necessary to keep supporting the economy” with ultra-loose monetary policy, he said.