BOJ chief Kuroda says yen's depreciation "somewhat rapid"

Economy

Bank of Japan Governor Haruhiko Kuroda said Tuesday the yen's recent depreciation against the U.S. dollar has been "somewhat rapid," ratcheting up his rhetoric amid concern about its negative impact on the fragile economic recovery. The remark, made at a parliamentary session, is the strongest yet since the yen tumbled to an over six-year low in March amid the prospect of a widening monetary policy gap between the BOJ and the U.S. Federal Reserve as inflation accelerates at a different pace in the two countries. A weak yen inflates import costs for resource-scarce Japan, but also helps exporte...

Kyodo News

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