November 28, 2017 / 12:27 AM / a year ago

BOJ's Kuroda calls for steps to develop Asia bond market

FILE PHOTO - Central Bank Governor Haruhiko Kuroda of the Bank of Japan attends ECB's Central Bank Communications Conference in Frankfurt, Germany, November 14, 2017. REUTERS/Kai Pfaffenbach

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Tuesday said there was a need to develop a vibrant bond-financing market in Asia to diversify sources of funding for companies in the region.

“Developing highly efficient and liquid local currency bond markets is essential,” Kuroda said in a speech at the Asia Securities Forum.

“With enhanced investment opportunities, abundant savings in the region could be recycled within the region” and meet huge needs for infrastructure funding, he said.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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