February 16, 2016 / 1:48 AM / 4 years ago

BOJ's negative rates to keep money flowing through economy: Japan's Ishihara

Japan's Economics Minister Nobuteru Ishihara walks into Japan's Prime Minister Shinzo Abe's official residence in Tokyo, Japan, January 28, 2016. REUTERS/Yuya Shino

TOKYO (Reuters) - Japanese Economy Minister Nobuteru Ishihara said on Tuesday the Bank of Japan’s adoption of negative interest rates is intended to make sure money flows through the economy.

Ishihara, speaking to reporters, said it will take more time to analyze the impact of negative rates but it is already starting to affect mortgages and auto loans.

He also said the adoption of negative rates shows the central bank’s strong determination to beat deflation.

Reporting by Stanley White; Editing by Chris Gallagher

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