TOKYO, Oct 19 (Kyodo) –
The yen’s rapid and one-sided depreciation is “negative” for the Japanese economy, Bank of Japan Governor Haruhiko Kuroda said Wednesday after the currency hit a fresh 32-year low versus the U.S. dollar.
The yen’s rapid and one-sided depreciation is “negative” for the Japanese economy, Bank of Japan Governor Haruhiko Kuroda said Wednesday after the currency hit a fresh 32-year low versus the U.S. dollar.
Kuroda told a parliamentary session that the rapid weakening of the yen makes business planning difficult for Japanese companies and thus the government’s intervention in September was “quite appropriate.”
“Currencies should move in a stable manner, reflecting economic and financial fundamentals,” Kuroda told a session of the Budget Committee in the House of Councillors.
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