Japan Aso: BOJ easing moving in right direction with negative rates

By Reuters
January 29,2016
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Japan's Finance Minister Taro Aso delivers his policy speech at the lower house of parliament in Tokyo, Japan, January 22, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Friday that the Bank of Japan's monetary easing was heading in the right direction with the central bank's adoption of negative interest rates.

Negative rates would expand the framework for monetary easing, Aso told reporters.

The central bank unexpectedly cut a benchmark interest rate below zero on Friday, stunning investors with another bold move to revive the economy.

(Reporting by Takashi Umekawa; Writing by Tetsushi Kajimoto; Editing by Chris Gallagher)