TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda made remarks about the yen’s depreciation against the dollar at a ministerial meeting on the 25th monthly economic report, according to a senior cabinet official.
“The recent rapid and one-sided depreciation of the yen has made it difficult for companies to formulate business plans, has increased uncertainty about the future and is bad and undesirable for the Japanese economy,” Kuroda said. He added: “The Bank of Japan will closely monitor developments in the financial and foreign exchange markets and their impact on Japan’s economic prices, cooperating closely with the government.”
Governor Kuroda said nothing about foreign exchange intervention. Finance Minister Shunichi Suzuki also did not comment on the intervention.
