BoJ Governor Haruhiko Kuroda told the parliament today that recent moves in Yen exchange way have been “somewhat rapid”. He added, “it’s extremely important for currency rates to move stably reflecting economic and financial fundamentals.”
“We will patiently maintain powerful monetary easing to support an economy still in the midst of recovering from the COVID-19 pandemic’s impact,” he reiterated.
“If long-term interest rates rise rapidly, we are ready to deploy such market operations,” Kuroda said, referring to the intervention to cap 10-year JGB yield at 0.25%.
