TOKYO -- More than four years after the Bank of Japan introduced its aggressive policy of quantitative and qualitative monetary easing, Gov. Haruhiko Kuroda has started discussing the side effects, such as pressure on the profit margins of financial institutions.
Kuroda once said monetary policy is not implemented for the benefit of financial institutions. But this tough stance seems to have softened. Japanese megabanks have welcomed Kuroda's shift, saying he has started to consider the financial health of the banking sector. Market attention is focusing on Kuroda's true intentions.
