News and Economic Review Zone Asia (Japan)
BOJ Kuroda: I'm Not Trying To Affect Foreign Exchange Yen
Tuesday, June 16th, 2015
Bank of Japan Governor Haruhiko Kuroda said that he did not try to influence the exchange rate of the yen in a statement last week that sent the currency rise against the dollar.
Kuroda said last week during a parliamentary session that the yen "is unlikely to weaken further in the effective real time." On this day he says that the real effective rate, which measures the yen in considering the trade, whose value is adjusted for inflation, are not indicators of bilateral exchange rates. He also said on Tuesday that he did not intend to say that he was not looking for a weaker yen.
BOJ Governor's statement last week felt by some analysts to reduce the possibility of further monetary easing, because Japan further stimulus would normally weaken the yen. They also consider it as an unusual thing for policy makers usually limit their assessment of the exchange rate to give a comment on the rate of change, not the value.
Although the presence of clarification on this day, the yen is still more powerful than before comments Kuroda. There have been signs that the Japanese authorities are not happy with the pace of decline in the yen against the dollar in recent weeks, sebelulum governor spoke at the Diet on Wednesday. Economy minister on June 9, has said that the move "suddenly" is not good, and the finance minister has seen the movement of "rough" on the currency.
BOJ Kuroda: I'm Not Trying To Affect Foreign Exchange Yen
Tuesday, June 16th, 2015
Bank of Japan Governor Haruhiko Kuroda said that he did not try to influence the exchange rate of the yen in a statement last week that sent the currency rise against the dollar.
Kuroda said last week during a parliamentary session that the yen "is unlikely to weaken further in the effective real time." On this day he says that the real effective rate, which measures the yen in considering the trade, whose value is adjusted for inflation, are not indicators of bilateral exchange rates. He also said on Tuesday that he did not intend to say that he was not looking for a weaker yen.
BOJ Governor's statement last week felt by some analysts to reduce the possibility of further monetary easing, because Japan further stimulus would normally weaken the yen. They also consider it as an unusual thing for policy makers usually limit their assessment of the exchange rate to give a comment on the rate of change, not the value.
Although the presence of clarification on this day, the yen is still more powerful than before comments Kuroda. There have been signs that the Japanese authorities are not happy with the pace of decline in the yen against the dollar in recent weeks, sebelulum governor spoke at the Diet on Wednesday. Economy minister on June 9, has said that the move "suddenly" is not good, and the finance minister has seen the movement of "rough" on the currency.
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