January 10, 2019 / 12:36 AM / 6 months ago

BOJ's Kuroda: Japan economy to continue expanding moderately

FILE PHOTO: Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan December 20, 2018. Mandatory credit Kyodo/via REUTERS

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Thursday the country’s economy was expected to continue expanding moderately.

He also said Japan’s financial system remained stable.

“Japan’s economy is expanding moderately” as rising household income underpins consumption, Kuroda said in a speech at a quarterly meeting of the central bank’s regional branch managers.

Under a policy dubbed yield curve control, the BOJ guides short-term interest rates at minus 0.1 percent and the 10-year government bond yield around zero percent to achieve its 2 percent inflation target.

Reporting by Leika Kihara; Editing by Chris Gallagher

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