July 29, 2013 / 4:31 AM / in 4 years

BOJ's Kuroda: Don't think sales tax hikes will hurt economy

TOKYO, July 29 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday that he did not think the government’s plan to raise the sales tax in two stages will harm the economy in a big way.

Kuroda, in a speech in Tokyo, also said fiscal discipline is important because long-term yields could rise if investors think the central bank purchases of government debt are aimed at financing fiscal spending.

The governor said that the BOJ’s expanded quantitative easing is working well to pull Japan out of deflation.

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