BOJ's Kuroda sounds alarm on global economy ahead of G20


By Stanley White

TOKYO, May 27 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the global economic outlook is highly uncertain, and there are downside risks due to trade friction, China's slowing economy and Britain's negotiations to leave the European Union.

Kuroda, in a speech at a seminar, said Group of 20 meetings this year will discuss current account balances and also said bilateral trade measures will not resolve such imbalances.

""There is a high degree of uncertainty... and the downside risks are large," Kuroda said.

"As president of the G20, we will lead policy discussions at the meeting with all the relevant information and appropriate evaluations of global economic conditions."

Japan will host a Group of 20 finance ministers and central bankers' meeting on June 8th and June 9th.

Kuroda's comments on the current account balance come amid increasing tension between the United States and its main trading partners.

Japan and the United States are negotiating a two-way trade pact. U.S. President Donald Trump, who is in Japan for a state visit, has made it clear he is unhappy with Japan's $68-billion trade surplus with the United States, much of it from auto exports.

Trump has also waged a trade war with China in an attempt to lower the U.S. trade deficit and change trade practices that the U.S. government considers unfair.

(Reporting by Stanley White; Editing by Simon Cameron-Moore)

((; +81 3 6441 1984; Reuters Messaging:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.