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Japan Finance Minister Shunichi Suzuki told the parliament, “I am very concerned about the gradual weakening of the yen”, which could accelerate inflation by increasing import costs.
BoJ Governor Haruhiko Kuroda also said, recent Yen weakness raises uncertainty on the outlook, and is negative for the economy.
Regarding monetary policy, Kuroda said, “If the achievement of our 2% inflation target comes into sight, making yield curve control more flexible could become an option.” But for now, he added that the central bank must maintain ultra-low loose monetary policy to support the economy.
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