Bank of Japan Governor Haruhiko Kuroda said on Friday he did not see any signs of bubbles or excesses building up in U.S., European and Japanese markets as a result of heavy money printing by their central banks.
Kuroda also dismissed some analysts` criticism that the BOJ`s purchases of exchange-traded funds (ETF) were distorting financial markets.
"We buy ETFs as part of our quantitative easing programme," Kuroda told reporters after attending the G20 finance leaders` gathering in Washington. "I don`t think our purchases are causing any big problem in the market."
The International Monetary Fund painted a rosy picture of the global economy in its World Economic Outlook earlier this week, but warned that prolonged easy monetary policy could be sowing the seeds of excessive risk-taking.
Kuroda said that while policymakers should not be complacent about their economies, he did not see huge risks materializing as a result of their policies.
He added that Japan`s economy was on track for a steady recovery that will likely gradually push up inflation and wages.
"I don`t see any big risk for Japan`s economy. But there could be external risks, such as geopolitical ones, so we`re watching developments carefully," he said.
A senior Japanese finance ministry official said currency rate moves were not discussed at the G20 meeting or a gathering of G7 finance leaders held on the sidelines.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)