A Japanese banking lobby head warned of the dangers to the industry if the centr...
NAGOYA, Japan - A Japanese banking lobby head warned of the dangers to the industry if the central bank topped up its already extreme monetary stimulus or deepened negative interest rates, amid signs authorities may have to do just that to support growth.
With investors’ risk aversion pushing down U.S. Treasury yields and narrowing the interest-rate gap between the United States and Japan, a cut to the BOJ’s -0.1% short-term rate target is considered among the options to counter excessive yen gains. “The BOJ may say it will look at the benefits and costs of such measures. But for us, there would be no merits at all,” he told Reuters on Tuesday.Home to auto giant Toyota Motor Corp and its parts suppliers, Aichi has plenty of profitable borrowers unlike other regions in Japan, which are struggling with shrinking populations and an exodus of companies to bigger cities.
Fujiwara said he did not expect interest rates to rise much in coming years, as overseas economic uncertainty kept the BOJ from exiting ultra-loose policy.
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