BOJ will scrutinise weak yen in guiding monetary policy, says Governor Ueda

TOKYO: Bank of Japan Governor Kazuo Ueda said on Thursday the central bank will scrutinise the yen’s recent declines in guiding monetary policy.

“Sharp, one-sided yen falls are negative for the economy and therefore undesirable,” as it makes it difficult for companies to set business plans, Ueda told parliament.

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“If currency volatility affects, or risks affecting, trend inflation, the BOJ must respond with monetary policy,” he said.