February 27, 2016 / 11:41 AM / 3 years ago

BOJ's Kuroda says G20 fully understands Japan's negative interest rate policy

Bank of Japan (BOJ) Governor Haruhiko Kuroda speaks during an upper house financial committee meeting of the Parliament in Tokyo, Japan February 18, 2016. REUTERS/Toru Hanai

SHANGHAI (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Saturday that the central bank had won the full understanding of fellow G20 policymakers that its adoption of negative interest rates was aimed at hitting a 2 percent inflation goal as soon as possible.

Speaking to reporters after two days of meetings among Group of 20 finance ministers and central bankers in Shanghai, Kuroda said that negative interest rate policy was already having an effect.

Finance Minister Taro Aso, speaking at the same news conference, welcomed the G20 agreement on the importance of exchange rate stability, adding that recent market volatility did not reflect global economic fundamentals.

Reporting by Nate Taplin in Shanghai and Tetsushi Kajimoto in Tokyo; Editing by Alex Richardson

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