BoJ’s Kuroda: Possible to further lower short-term interest rate but cannot comment
|Bank of Japan (BoJ) Governor Haruhiko Kuroda said on Friday, it is “possible to further lower short-term interest rate from minus 0.1%, but cannot comment on to what extent.”
Kuroda added, “hard to lower medium-, long-term interest rates by deepening negative rates alone.”
“Negative rates of 2-3% could hit the intermediary function,” the ougoing central bank Governor said.
Meanwhile, the Nikkei Asian Review reported that the Japanese Government, the BoJ and the Financial Services Authority (FSA) will meet later this evening. The trilateral meeting is held to exchange information on financial markets after Silicon Valley Bank's collapse, the Japanese daily reported.
Market reaction
At the time of writing, USD/JPY is testing daily lows near 132.95, down 0.57% on the day.
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