Bank of Japan Governor Haruhiko Kuroda said the Japanese markets would have been in worse scenario if they did not impose negative interest rate.
The BOJ head reiterated such a move has not bounced back or made the Japanese yen to escalate and equity markets to slump.
But Kuroda, denouncing speculations the new policy is not productive, could say financial markets would have endure worse if the central did not unveil quantitative and qualitative easing in the country.
Since then, the yen has climbed nearly 11% but the Topix has lost 5% and the banking index 15%.
The material has been provided by InstaForex Company – www.instaforex.com