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

Politics Economy

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...

Kyodo News

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