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BOJ chief rules out tightening, calling cheap yen 'positive'

Decision to end COVID stimulus in March comes as Fed and ECB accelerate tapering

Bank of Japan Governor Haruhiko Kuroda acknowledges that a weaker yen has both positive and negative effects on the economy but said 'the positives outweigh the negatives' at a press conference on Dec. 17.   © Reuters

TOKYO -- Japan's central bank chief ruled out tightening monetary policy anytime soon as the central bank announced it will wrap up some of its emergency COVID monetary stimulus measures during a two-day policy meeting that ended on Friday.

Haruhiko Kuroda, governor of the Bank of Japan, said in a news conference that Japan's consumer inflation still hovers around 0.5% even after one-off factors such as across-the-board reductions in mobile phone rates in April are taken into consideration.

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