Sato hits out at BoJ's negative rates
Board member warns negative rates in Japan may lead to tighter conditions
The Bank of Japan's negative policy rate may be having the opposite effect to that intended, worsening Japan's deflation problem and creating instability, policy board member Takehiro Sato said today (June 2).
The board member dissented at recent monetary policy meetings, voting against more aggressive attempts at easing, and today shed more light on his complaints.
After the January meeting that saw the BoJ's board vote narrowly in favour of negative rates, Japanese stocks plunged and the yen
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