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The BOJ has kept monetary policy steady since expanding its massive stimulus programme in October 2014. But concerns about inflation moving further away from its 2 percent target on account of falling oil prices is raising speculation that the BOJ may take some action at its rate review next week.
Kuroda, speaking at a news conference at the BOJ headquarters in Tokyo said he was closely watching how the global financial turbulence could affect Japan's economy and prices. Kuroda said he is not thinking of negative interest rate policy now. This can be taken as a signal that any further monetary easing from the BoJ will likely take the form of an expansion of its QE programme.
Justifying his stance, Kuroda said that the Federal Reserve didn't adopt negative interest rates and yet, its policy succeeded in stimulating the U.S. economy. He said the central bank was ready to expand stimulus if needed to ensure achievement of its 2 percent inflation target. And added that the central bank has various tools available if it were to ease monetary policy again.
