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BOJ's Kuroda responds to criticism, says yield curve control 'sustainable'

Bank of Japan Governor Haruhiko Kuroda said Dec. 7 that the central bank's yield curve control is a "sustainable" measure for reining in rising long-term rates. He said this in response to criticism that the bank's massive bond buying was nearing its limit, Reuters reported.

Kuroda said he was aware of concerns that the bank's massive bond buying could dry up liquidity and pose difficulties in controlling long-term rates.

But he added that the bank's stimulus program ended deflation and improved the economy. He expects Japanese companies to soon raise wages to help the bank achieve its 2% inflation target.

"The risk of us facing problems in terms of buying bonds will be small for the time being," he said in a speech at a seminar. He said that the bank will "persistently pursue powerful monetary easing" to stabilize the economy.