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Economy

BOJ chief opens door to deeper negative rates

Japan's central bank keeps policy unchanged despite U.S. rate cuts

The Bank of Japan on Thursday decided to keep unchanged its ultra easy monetary policy.

TOKYO -- Bank of Japan Gov. Haruhiko Kuroda on Thursday reiterated his willingness to push short-term interest rates further into negative territory, despite concerns that such a policy would hurt the banking industry and undermine economic growth.

"It is true that minus interest rates have both positive and negative effects," Kuroda said in a press conference following a two-day policy meeting during which the bank decided to leave rates unchanged. "But that doesn't mean that no further reduction is possible."

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