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Banks

BOJ's Kuroda rebuffs view Japan heading towards deflation

FILE PHOTO: Bank of Japan Governor Haruhiko Kuroda attends a news conference in Tokyo, Japan March 16, 2020, in this photo released by Kyodo. Mandatory credit Kyodo/via REUTERS

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday he did not see Japan heading towards deflation, but added he would watch service-sector consumption and capital expenditure closely.

“We expect capital expenditure to rebound, as the hit from COVID-19 eases and helps lift corporate profits,” Kuroda told a semi-annual testimony to parliament.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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