Kuroda Toshihiko

Bank of Japan Governor Haruhiko Kuroda said that the Bank of Japan may maintain ultra-low interest rates for the next year, but the government should not use a large amount of money to support the economy.

According to Reuters, Kuroda said that the current low-interest rate is likely to continue until after the spring of 2020. Although the Japanese economy still has moderate growth, global economic growth has been shown to be weak, making exports, production, and manufacturers to capital. Spending is kept cautious.

For the idea of unlimited printing of banknotes proposed by American academics and the purchase of government debt for fiscal expenditure, Kuroda believes that when the central bank indefinitely monetizes its debts, it will almost certainly trigger hyperinflation and cause huge damage to the economy. The consensus of central banks in developed economies is that debt should not be monetized.

He also pointed out that under the structural factors of low-interest rates and population decline, the profitability of regional banks may be under pressure. It is necessary to strengthen profitability through mergers, integrations, and alliances with other industries.

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