BOJ Nakaso: Structural reforms need to accompany ultra-easy policy

September 27, 2016 1:04 AM EDT

Bank of Japan Deputy Governor Hiroshi Nakaso speaks during an interview with Reuters at the BOJ headquarters in Tokyo April 9, 2015. REUTERS/Yuya Shino

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TOKYO (Reuters) - The Bank of Japan has taken steps to push down real interest rates but structural reforms are also needed to boost the economy's growth potential, the central bank's deputy governor Hiroshi Nakaso said on Tuesday.

"The BOJ took bold steps last week ... but that alone isn't enough. There need to be structural reforms to promote innovation," he said at a seminar debating structural problems in Japan's and China's economies.

Nakaso also said growing protectionism, as observed in the U.S. presidential debate, and anti-globalization were among barriers that could hamper expansion in global trade.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)

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