February 22, 2014 / 2:55 AM / 4 years ago

BOJ Kuroda: Fed tapering reflects U.S. strength, good for global growth

SYDNEY, Feb 22 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Saturday the fact the Federal Reserve is tapering its massive stimulus programme underscores the strength of the U.S. economy, which is positive for emerging economies and for global growth in the long-term.

He also said the G20 finance leaders gathering in Sydney over the weekend will discuss recent market volatility that has hit some emerging economies.

“As for us, we’ll explain how our qualitative and quantitative easing is making initial success, and how Japan is making steady progress toward our 2 percent price target,” Kuroda told reporters.

The BOJ has maintained its huge monetary stimulus deployed in April last year, which aims to accelerate consumer inflation to 2 percent in roughly two years via aggressive asset purchases in a country mired in deflation for 15 years.

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