Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Kuroda Says Developing Nations Worried About Tapering

Oct. 11 (Bloomberg) -- Policy makers from some emerging market economies voiced their concerns about the impact of an eventual reduction in monetary stimulus from developed nations, according to Bank of Japan Governor Haruhiko Kuroda.

“There were some opinions from emerging market economies that speculation of reduced monetary stimulus from the developed countries could lead to volatility in financial markets and capital flows,” Kuroda said today in a press conference in Washington.

A month since the U.S. Federal Reserve surprised investors by deciding not to slow its asset-purchase program, Group of 20 officials today pledged that future changes to monetary policy would be “carefully calibrated and clearly communicated.”

Alert to complaints from emerging markets that they could suffer once stimulus is withdrawn, the group promised to monitor “spillovers” in which actions taken by one economy hurt another.

Japanese Finance Minister Taro Aso said in a joint appearance with Kuroda that Japan was praised for its policies balancing economic growth and fiscal consolidation. He also repeated that an inability to raise the U.S. debt ceiling would hurt other nations as well as the U.S.

To contact the reporter on this story: Aki Ito in Washington at aito16@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.