The Bank of Japan and the government have worked closely on foreign exchange, and Mr Kuroda said after a meeting with the Prime Minister.


On March 25, 2016, the currency symbols of Japanese yen, euro, and US dollars are displayed on the bulletin board outside the currency exchange office at Narita International Airport near Tokyo, Japan. (Yuya Shino / Reuters)

Tokyo — Haruhiko Kuroda, Governor of the Bank of Japan, said on Monday that the central bank wants to work closely with the government to respond appropriately to the currency market, issuing a new warning against the recent sharp depreciation of the yen. ..

After meeting with Prime Minister Fumio Kishida at the Prime Minister’s Office, Kuroda told reporters, “I told the Prime Minister that the recent sharp appreciation of the yen is not desirable.”

“Fumio Kishida didn’t say anything special, but he said it was important for the currency to move steadily, reflecting economic fundamentals,” Kuroda added.

He said a sharp depreciation of the yen, as seen recently, would bring uncertainty to a company’s business plans.

“We will continue to carefully monitor the movement of currencies and respond appropriately in cooperation with the government.”

Prime Minister Kuroda said he had exchanged views with the Prime Minister on the global economy and financial markets at meetings that were part of regular bilateral gatherings.

The Bank of Japan countered the wave of global monetary tightening on Friday, pledged to maintain ultra-low interest rates and uphold bond yields with unlimited buys, and to focus on helping a moderate economic recovery. ..

Reika Kihara, Tetsushi Kajimoto