BoJ Governor Haruhiko Kuroda emphasized in an online meeting with business leaders, “it’s extremely important to keep exchange-rate moves stable.” “As a central bank, we won’t act directly to stabilise markets,” he added. “But we of course will work closely with financial authorities and overseas central banks to help keep currency moves stable.”
“Global market developments remain jittery reflecting uncertainty over the outlook.” BoJ will also “closely watch global and economic market developments, including those after the U.S. presidential election.”
Kuroda also noted that “the spread of COVID-19 has not subsided globally, including Europe and the United States, and public health measures have been tightened in European countries… Under these circumstances, the consequences of COVID-19 and the magnitude of their impact on domestic and overseas economies are highly unclear.”
Released from Japan, monetary base rose 16.3% yoy in October, versus expectation of 14.5% yoy.
