Prime News: Kuroda under fire over effects of negative rates

Bank of Japan Governor Haruhiko Kuroda, being targeted by opposition politicians, was urged to clear the impacts of negative interest rates on consumers.

Talking to opposition leader Takeshi Shina, Kuroda said he was not expecting all financial institutions to levy negative rates on depositors. He added doing so would make individuals pull out their money and hold it through bank notes.

A series of opinion polls indicated the public has low projections for the central bank’s negative rate policy, with Nikkei and TV Tokyo poll said 53% of respondents do not buy the rate policy.

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