WASHINGTON – Bank of Japan Gov. Haruhiko Kuroda expressed strong confidence Saturday in Japan’s economic outlook and warned that financial regulation should be addressed on a global scale before the global economy is disrupted.
“Positive developments in the Japanese economy have become increasingly pronounced” since the BOJ adopted its quantitative and qualitative monetary easing in April, Kuroda said in a speech at an Institute of International Finance conference in Washington.
Japan’s economic outlook is “perhaps brighter than at any other point since the turn of the century,” he said.
On regulation, Kuroda said that national regulations on international financial activities need to be internationally consistent.
The lack of international consistency and homogeneity of national regulations “may well undermine the stability of the international financial system,” he warned.