BoJ Governor Haruhiko Kuroda said today that Yen’s depreciation is “positive to the economy as long as the moves are stable”. He added, “various macroeconomic models show weak yen is positive.. But he also reiterated that it’s important for exchange rate to move “reflecting fundamentals”.
Kuroda also retracted the remain made earlier on inflation which triggered massive social media backlashes. He told reporters at the Prime Minister’s Office, “I did not mean that consumers are voluntarily accepting the price increases. I apologize if my words led to a misunderstanding.”