BoJ Governor Haruhiko Kuroda told the parliament today that “excess (exchange rate) volatility in a short term as seen recently is undesirable.” He pledged to keep a close watch of the impact of the currency moves on the economy and prices. He also added that exchange rate moves should be stable and reflecting economic fundamentals.
On monetary policy, “it’s important to back the economic activity with powerful monetary easing,” Kuroda reiterated. “It will take time for sustainable, stable inflation to take hold in Japan.”
