August 1, 2019 / 1:58 AM / 4 months ago

BOJ's Amamiya says Fed rate cut positive for Japan's economy

KAGOSHIMA, Japan, Aug 1 (Reuters) - Bank of Japan Deputy Governor Masayoshi Amamiya said on Thursday the U.S. Federal Reserve’s decision to cut interest rates would likely have a positive effect on the global and Japanese economies by keeping U.S. growth on a solid footing.

He also said the BOJ, like other central banks, stood ready to ramp up stimulus “without hesitation” to pre-empt risks of the economy losing momentum towards achieving its price target.

“Japan’s economy is sustaining its momentum to achieve our price target,” Amamiya said in a speech to business leaders in Kagoshima, southern Japan. “But we need to guard against the risk of this momentum being lost.” (Reporting by Leika Kihara; Editing by Chris Gallagher)

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