URGENT: BOJ chief says rapid yen weakening negative for Japan economy

Economy

Bank of Japan Governor Haruhiko Kuroda reiterated his warning Friday that the recent rapid depreciation of the yen is "negative" for the Japanese economy, adding that currency moves should be stable and reflect economic and financial fundamentals. After the BOJ maintained its ultralow rate policy at its regular two-day meeting, Kuroda, speaking at a press conference, stressed the need for monetary easing to achieve its 2 percent inflation target stably and sustainably. Kuroda said the BOJ will need to watch developments in currency markets closely.

Kyodo News

Kyodo News Bank of Japan