BoJ Kuroda: Recent depreciation of Yen was sharp and one-sided

BoJ Governor Haruhiko Kuroda told a parliamentary committee that recent depreciation of Yen was sharp and one-sided “This kind of yen weakening makes it difficult for companies to set their business plans and raises uncertainties in their outlook,” he said. “This is negative for our economy and not desirable.”

Separately, board member Seiji Adachi said, “When looking at the global financial and economic environment surrounding Japan, downside risks are building up rapidly… When downside risks are so high, we should be cautious of shifting toward monetary tightening.”

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