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MNI BRIEF: BOJ's Kuroda Says Rapidly Weaker Yen Is Undesirable

TOKYO (MNI)

Bank of Japan Governor Haruhiko Kuroda said on Friday that the recent rapid yen fall is making it difficult for firms to project their business plans and is undesirable.

“It is vital for foreign exchange rates to move stably reflecting economic and financial fundamentals,” Kuroda told reporters at a conference that followed the latest policy review, (See: MNI BRIEF: BOJ On Hold, Keeps Policy Forward Guidance).

“The recent rapid yen’s fall is undesirable,” Kuroda said, adding that the BOJ is focused on businesses that are posting high profits due to the weak yen will increase capital investment and wages.” Kuroda added that the BOJ continues to carefully monitor developments of forex and bond markets, and their impact on economy and prices.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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