To Cope with Yen's Drop: BOJ Chief

Politics Economy

Tokyo, June 20 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda said Monday the BOJ will cope with the ongoing depreciation of the yen in cooperation with the government.

Kuroda made the comment to reporters after meeting with Prime Minister Fumio Kishida at the prime minister's office.

"I told (Kishida) that the yen's recent drop has brought uncertainty and is unfavorable," he said.

The yen is dropping against the dollar and European currencies amid expectations for wider interest rate gaps between Japan and other major Western economies, at a time when the U.S. and European central banks are accelerating monetary tightening to fight inflation raised by Russia's invasion of Ukraine while the BOJ is sticking to massive easing.

Kishida and Kuroda meet regularly at the prime minister's office to discuss matters related to the global economy and financial markets, with the previous meeting taking place on March 30.

[Copyright The Jiji Press, Ltd.]

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