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Report: BOJ's Kuroda tells policymakers to heed geopolitical risks

Bank of Japan Governor Haruhiko Kuroda warned investors against being complacent about geopolitical risks that could cause financial market turbulence and disrupt the global economic recovery, Reuters reported.

Speaking at a Group of 30 seminar in Washington, Kuroda said investors have largely dismissed geopolitical risks like the rising tensions between North Korea and the U.S.

He said policymakers have to pay attention to factors that could cloud the outlook such as falling productivity, weak inflation and geopolitical risks, Reuters reported.

He said that in spite of the heightened geopolitical risks, "asset valuations remain elevated with volatility being at historically low levels."

Kuroda added: "Stability in financial markets is good news. But there is a possibility that market players are complacent and not properly pricing risks, which requires attention."