https://sputnikglobe.com/20221019/bank-of-japan-governor-says-current-yen-depreciation-negative-for-economy-1102071134.html
Bank of Japan Governor Says Current Yen Depreciation Negative for Economy
Bank of Japan Governor Says Current Yen Depreciation Negative for Economy
Sputnik International
TOKYO (Sputnik) - Bank of Japan Governor Haruhiko Kuroda said on Wednesday that the continuing drop in the value of the national currency was detrimental for... 19.10.2022, Sputnik International
2022-10-19T09:30+0000
2022-10-19T09:30+0000
2023-04-06T12:15+0000
economy
yen
japan
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"The recent depreciation of the yen is rapid and one-sided. This type of yen weakness makes it difficult for companies to draw up business plans and raises uncertainty so it is negative for the economy and unfavorable," Kuroda said at parliamentary session in the upper house, as quoted by the Japanese news agency Kyodo.On Wednesday morning, the exchange rate of the yen fell to 149.2 against the US dollar, the lowest since 1990. The lower the exchange rate of the yen, the higher the possibility of government intervention in the market and its impact on the economy.
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Bank of Japan Governor Says Current Yen Depreciation Negative for Economy
09:30 GMT 19.10.2022 (Updated: 12:15 GMT 06.04.2023) TOKYO (Sputnik) - Bank of Japan Governor Haruhiko Kuroda said on Wednesday that the continuing drop in the value of the national currency was detrimental for the economy.
"The recent depreciation of the yen is rapid and one-sided. This type of yen weakness makes it difficult for companies to draw up business plans and raises uncertainty so it is negative for the economy and unfavorable," Kuroda said at parliamentary session in the upper house, as quoted by the Japanese news agency Kyodo.
On Wednesday morning, the exchange
rate of the yen fell to 149.2 against the US dollar, the lowest since 1990.
The lower the exchange rate of the yen, the higher the possibility of government intervention in the market and its impact on the economy.
