May 12, 2017 / 6:47 AM / 4 months ago

BOJ's Kuroda: protectionism is no solution for fixing global inequality

BARI, Italy, May 12 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday that trade protectionism won’t be a solution to fix the problem of widening global inequality.

Speaking to reporters ahead of a meeting of Group of Seven finance ministers and central bankers in the southern Italian city of Bari, Kuroda said a steadily recovering global economy is having a positive effect on Japan although domestic inflation remains low.

The BOJ chief said Italian banks’ non-performing loans needs to be tackled but didn’t see the bad debt posing significant negative impacts on the financial system of Italy and Europe. (Reporting by Tetsushi Kajimoto; Editing by Shri Navaratnam)

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