BOJ governor Kuroda warns against policies unwinding free tradeWASHINGTON (Reuters) - Bank of Japan Governor Haruhiko Kuroda warned world policymakers against undoing the free trade and globalization that he said have brought prosperity to many economies, particularly emerging nations. Kuroda also said that while Japan’s economic prospects were brightening, inflation was lacking momentum and justified maintaining the BOJ’s massive monetary stimulus for some time. “The global economy made great strides by consistently promoting free trade since the end of World War Two,” Kuroda said upon arrival in Washington for the Group of 20 finance leaders’ gathering and the International Monetary Fund meetings. “My belief is that a multilateral framework promoting free trade will continue. There won’t be huge changes to that,” he told reporters on Thursday. His comments came as world financial leaders gathered in Washington with pledges to work with U.S. President Donald Trump to fix lingering trade problems while vowing to keep their commitments to free trade and global integration. Kuroda, formerly head of the Asian Development Bank, said that while policymakers must deal with poverty and income disparities widening in some countries, that did not mean they should abandon global free trade. “Unwinding the more than 70-year postwar history of free trade and globalism isn’t the appropriate approach,” he said. Trump’s protectionist approach to trade and European political risks have overshadowed brightening prospects for the global economy, driven by a rebound in manufacturing activity. Japan has benefitted from global tailwinds that boosted exports and factory output, Kuroda said, describing its economy as “expanding steadily as a trend” - a more upbeat view than last month. But he offered a bleaker view on Japan’s inflation, saying it lacked momentum with no clear sign yet it was shifting up. “That’s why the BOJ will continue its ultra-easy monetary policy to achieve its 2 percent inflation target at the earliest date possible,” he said. Japan’s economy has shown signs of life as exports and output rebounded thanks to a pick-up in global demand. But core consumer prices for February rose just 0.2 percent from a year earlier, far from the BOJ’s 2 percent target, as weak household spending discourages companies from raising prices and wages. After three years of heavy money printing failed to drive up inflation, the BOJ reverted its policy framework last September to one better suited for a long-term war against deflation. politicsNews
boj governor europa warns policies unwilling free tradewashington reuters bank japan governor haruhiko europa warned world policymakers undoing free trade globalization said brought prosperity many economies particularly emerging nations europa also said japan economic prospects frightening inflation lacking momentum justified maintaining boj massive monetary stimulus time the global economy made great strides consistently promoting free trade since end world war two europa said upon arrival washington group finance leaders gathering international monetary fund meetings my belief multilateral framework promoting free trade continue there huge changes told reporters thursday his comments came world financial leaders gathered washington pledges work president donald trump fix lingering trade problems vowing keep commitments free trade global integration europa formerly head asian development bank said policymakers must deal poverty income disparities widening countries mean abandon global free trade unwilling postwar history free trade globalism appropriate approach said trump protections approach trade european political risks overshadowed frightening prospects global economy driven rebound manufacturing activity japan benefitted global tailwinds boosted exports factory output europa said describing economy expanding steadily trend upbeat view last month but offered breaker view japan inflation saying lacked momentum clear sign yet shifting that boj continue monetary policy achieve percent inflation target earliest date possible said japan economy shown signs life exports output rebounded thanks global demand but core consumer prices february rose percent year earlier far boj percent target weak household spending discourages companies raising prices wages after three years heavy money printing failed drive inflation boj reverted policy framework last september one better suited war deletion politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: BOJ governor Kuroda warns against policies unwinding free tradeWASHINGTON (Reuters) - Bank of Japan Governor Haruhiko Kuroda warned world policymakers against undoing the free trade and globalization that he said have brought prosperity to many economies, particularly emerging nations. Kuroda also said that while Japan’s economic prospects were brightening, inflation was lacking momentum and justified maintaining the BOJ’s massive monetary stimulus for some time. “The global economy made great strides by consistently promoting free trade since the end of World War Two,” Kuroda said upon arrival in Washington for the Group of 20 finance leaders’ gathering and the International Monetary Fund meetings. “My belief is that a multilateral framework promoting free trade will continue. There won’t be huge changes to that,” he told reporters on Thursday. His comments came as world financial leaders gathered in Washington with pledges to work with U.S. President Donald Trump to fix lingering trade problems while vowing to keep their commitments to free trade and global integration. Kuroda, formerly head of the Asian Development Bank, said that while policymakers must deal with poverty and income disparities widening in some countries, that did not mean they should abandon global free trade. “Unwinding the more than 70-year postwar history of free trade and globalism isn’t the appropriate approach,” he said. Trump’s protectionist approach to trade and European political risks have overshadowed brightening prospects for the global economy, driven by a rebound in manufacturing activity. Japan has benefitted from global tailwinds that boosted exports and factory output, Kuroda said, describing its economy as “expanding steadily as a trend” - a more upbeat view than last month. But he offered a bleaker view on Japan’s inflation, saying it lacked momentum with no clear sign yet it was shifting up. “That’s why the BOJ will continue its ultra-easy monetary policy to achieve its 2 percent inflation target at the earliest date possible,” he said. Japan’s economy has shown signs of life as exports and output rebounded thanks to a pick-up in global demand. But core consumer prices for February rose just 0.2 percent from a year earlier, far from the BOJ’s 2 percent target, as weak household spending discourages companies from raising prices and wages. After three years of heavy money printing failed to drive up inflation, the BOJ reverted its policy framework last September to one better suited for a long-term war against deflation. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: boj governor europa warns policies unwilling free tradewashington reuters bank japan governor haruhiko europa warned world policymakers undoing free trade globalization said brought prosperity many economies particularly emerging nations europa also said japan economic prospects frightening inflation lacking momentum justified maintaining boj massive monetary stimulus time the global economy made great strides consistently promoting free trade since end world war two europa said upon arrival washington group finance leaders gathering international monetary fund meetings my belief multilateral framework promoting free trade continue there huge changes told reporters thursday his comments came world financial leaders gathered washington pledges work president donald trump fix lingering trade problems vowing keep commitments free trade global integration europa formerly head asian development bank said policymakers must deal poverty income disparities widening countries mean abandon global free trade unwilling postwar history free trade globalism appropriate approach said trump protections approach trade european political risks overshadowed frightening prospects global economy driven rebound manufacturing activity japan benefitted global tailwinds boosted exports factory output europa said describing economy expanding steadily trend upbeat view last month but offered breaker view japan inflation saying lacked momentum clear sign yet shifting that boj continue monetary policy achieve percent inflation target earliest date possible said japan economy shown signs life exports output rebounded thanks global demand but core consumer prices february rose percent year earlier far boj percent target weak household spending discourages companies raising prices wages after three years heavy money printing failed drive inflation boj reverted policy framework last september one better suited war deletion politicsnews