URGENT: Excessively rapid forex movements negative for economy: BOJ chief

Economy

Bank of Japan Governor Haruhiko Kuroda said Thursday a weak yen is positive for the Japanese economy but the negative aspects of excessively rapid currency moves should also be noted, after the currency tumbled to a fresh 20-year low against the U.S. dollar. Speaking at a press conference after a two-day policy meeting, Kuroda said it is "appropriate" to continue with the central bank's powerful monetary easing because the sustainability of recent inflation is in doubt. Kuroda said the BOJ wanted to clarify that it will defend its cap on Japanese long-term interest rates by carrying out fixed-...

Kyodo News

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