Economics

Bank of Japan Will Think About Stimulus Exit Around 2019: Kuroda

Yen surges after governor’s comments in Japan’s parliament
He’s been under pressure to provide guidance on normalization

Haruhiko Kuroda, governor of the Bank of Japan (BOJ), speaks during a confirmation hearing for another term as central bank governor at a lower house of parliament in Tokyo, Japan, on Friday, March 2, 2018. The BOJ will start thinking about how to exit its massive monetary stimulus program in around the fiscal year starting in April 2019, Kuroda said.Photographer: Kiyoshi Ota/Bloomberg

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By Toru Fujioka

March 2, 2018 at 6:27 AM UTC

Updated on

March 2, 2018 at 8:47 AM UTC

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The Bank of Japan will start thinking about how to exit its massive monetary stimulus program around the fiscal year starting in April 2019, Governor Haruhiko Kuroda said Friday, marking the first time he’s provided any clear guidance on timing for normalizing policy.

The yen surged, gaining as much as 0.5 percent to 105.71 per dollar, while yields on Japanese sovereign debt climbed across the curve. The Nikkei 225 Index closed 2.5 percent lower and the Topix Index fell 1.8 percent.