Business | Oct 19

Rapid, one-sided yen fall negative for Japan economy: Bank of Japan chief

TOKYO, Oct 19 (Kyodo) - The yen's rapid and one-sided depreciation is "negative" for the Japanese economy, Bank of Japan Governor Haruhiko Kuroda said Wednesday after the currency hit a fresh 32-year low versus the U.S. dollar.

Kuroda told a parliamentary session that the rapid weakening of the yen makes business planning difficult for Japanese companies and thus the government's intervention in September was "quite appropriate."

"Currencies should move in a stable manner, reflecting economic and financial fundamentals," Kuroda told a session of the Budget Committee in the House of Councillors. ...continue reading

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