Boj Kuroda: Weak Yen Favorable To Japan Overall
Bank of Japan Governor Kuroda Haruhiko spoke about the rapid depreciation of the yen after the bank's 2-day policy meeting. He said he has not changed his view that the weak yen is favorable to the Japanese economy in general.
But Kuroda also warned about the prospect of extreme currency volatility. He said that it increases uncertainty and negatively affects business planning and other areas.
He also clarified the measures to limit the upper range of long-term interest rates to around 0.25 percent.
Kuroda said, "There was speculation in the financial markets about the central bank's policy, and we believe that it will reduce market instability to clarify the stance the bank has been taking."