October 19, 2018 / 6:52 AM / a month ago

BOJ's Kuroda warns of risks from protectionism, volatile markets

Bank of Japan governor Haruhiko Kuroda attends a seminar at the International Monetary Fund - World Bank Group Annual Meeting 2018 in Nusa Dua, Bali, Indonesia October 13, 2018. REUTERS/Johannes P. Christo

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Friday warned of the need to be mindful of risks to the country’s moderate economic expansion, such as the rising tide of protectionism and volatile financial markets.

“We need to vigilant to recent protectionist moves and financial market developments. Still, the economy is likely to continue expanding moderately,” Kuroda said in a speech at an annual meeting of credit associations.

Kuroda also said that while he saw no excesses building up in Japan’s financial system, regional financial institutions were seeing profits fall due to a dwindling population and prolonged low interest rates.

Reporting by Leika Kihara; Editing by Chris Gallagher

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