BOJ tones up warning on weak yen

TOKYO:

Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday the yen’s recent moves were “somewhat rapid”, joining a chorus of policymakers who have warned that sharp falls in the currency could hurt the country’s import-reliant economy. The remark was the strongest warning by Kuroda on yen moves since the currency’s slide to a six-year low last week, and a sign the BOJ shares the government’s concern over the potential damage to corporate sentiment from sharp yen falls. “Recent (yen) moves have been somewhat rapid,” Kuroda told parliament, adding that the BOJ was carefully watching currency moves due to their huge impact on the economy and prices.

Published in The Express Tribune, April 6^th, 2022.

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