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Japan's central bank urged to avoid deepening negative rates

01/13/2021 | 12:13am

TOKYO, Jan 13 (Reuters) - The Bank of Japan should avoid deepening negative rates, which would further pressure profits, the head of a lobby group of regional banks said, after the central bank vowed to examine measures to make its monetary easing framework more effective.

"The monetary easing was effective in terms of Japan's economic growth, but it also had significant impact on regional banks' profits," said Yasuyoshi Oya, the chairman of the Regional Banks Association of Japan.

"We would like the BOJ to avoid deepening negative rates," he said. (Reporting by Takashi Umekawa; Editing by Clarence Fernandez)

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