WASHINGTON (Kyodo) Credit-tightening moves by central banks in the United States, Europe and Japan are unlikely to hurt the global economy, according to Bank of Japan Gov. Toshihiko Fukui.
At a news conference following a one-day meeting Friday of the Group of Seven economic powers, however, Fukui also noted that the impact of credit tightening may vary depending on each economy, saying the risk of capital transfers is rising in line with globalization.
"Current credit tightening in major G7 economies came after super accommodative monetary stances to tackle the burst of the information technology bubble," Fukui said.