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MNI BRIEF: BOJ's Kuroda: Recent Rapid FX Moves Undesirable

MNI (Tokyo)
TOKYO (MNI)

Bank of Japan Governor Haruhiko Kuroda said on Friday that the recent rapid movements of foreign exchange rates are undesirable and the impact on the economy and prices in being monitored.

“Japan’s economy is in a process of recovering from Covid-19 and the rise in high commodity prices is putting downward pressure on the economy. The BOJ will maintain the current powerful easy policy to achieve the 2% price target in a stable manner,” Kuroda said.

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Bank of Japan Governor Haruhiko Kuroda said on Friday that the recent rapid movements of foreign exchange rates are undesirable and the impact on the economy and prices in being monitored.

“Japan’s economy is in a process of recovering from Covid-19 and the rise in high commodity prices is putting downward pressure on the economy. The BOJ will maintain the current powerful easy policy to achieve the 2% price target in a stable manner,” Kuroda said.

Keep reading...Show less