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Bank of Japan sees no deflation threat in euro area
June 19, 2014 / 2:26 PM / 3 years ago

Bank of Japan sees no deflation threat in euro area

ATHENS, June 19 (Reuters) - The Bank of Japan sees no threat of deflation in the euro area because the European Central Bank (ECB) has beefed up its arsenal to avert any such risk, deputy central bank governor Hiroshi Nakaso said on Thursday.

“The ECB has made substantial progress... so I don’t think the euro area faces an imminent threat of falling into a Japanese-like deflation,” Nakaso told a central banking conference in Athens.

Nakaso was referring to measures the ECB announced earlier this month, such as negative interest rates, to kickstart growth and provide liquidity to the bloc’s banks. (Reporting by Harry Papachristou and George Georgiopoulos)

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