URGENT: Forex intervention "appropriate" amid volatility: BOJ chief

Bank of Japan Governor Haruhiko Kuroda said Monday the country's intervention in the currency market last week to arrest the yen's sharp decline was "appropriate," adding that one-sided, rapid fluctuations are not desirable. Speaking at a press conference in Osaka, Kuroda said the central bank should continue its ultralow interest rate policy, given that the BOJ's 2 percent inflation target will not be achievable next year, affected by strong wage growth. He also dismissed the possibility of widening the current range for 10-year Japanese government bond yields to fluctuate. The government and...