Relentless yen surge kept BOJ on alert in 2011, spurring easing

Politics Economy

A heightened sense of alarm over the yen's surge to record highs prompted Bank of Japan board members to ease monetary policy in 2011 amid a nascent recovery from the shock of the massive earthquake, tsunami and nuclear crisis in the northeast of the country, the BOJ's minutes showed Monday. The minutes of policy-setting meetings between July and December in 2011 revealed the BOJ's concern regarding the yen's persistent strength that was threatening to hurt corporate sentiment, prod manufacturers to shift production overseas and delay the nation's exit from deflation. During that time, the gov...

Kyodo News

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