A Bank of Japan document shows board members opposed a policy change aimed at curbing the weakening of the yen.
The BOJ decided to maintain its monetary easing at a meeting last month. The policy includes unlimited purchases of government bonds effectively on a daily basis. That action has accelerated the yen's decline.
The central bank on Thursday released a "Summary of Opinions" from the discussions.
It shows one official said "it is not appropriate that the Bank of Japan change its policy with the aim of controlling foreign-exchange rates."
The official said one reason for the yen's recent depreciation is the difference between economic conditions in Japan and the United States and Europe.
Officials said the bank should maintain its monetary easing in a straightforward manner. They said this should continue until the BOJ's price stability target is successfully achieved.
The BOJ decided to maintain its monetary easing at a meeting last month. The policy includes unlimited purchases of government bonds effectively on a daily basis. That action has accelerated the yen's decline.
The central bank on Thursday released a "Summary of Opinions" from the discussions.
It shows one official said "it is not appropriate that the Bank of Japan change its policy with the aim of controlling foreign-exchange rates."
The official said one reason for the yen's recent depreciation is the difference between economic conditions in Japan and the United States and Europe.
Officials said the bank should maintain its monetary easing in a straightforward manner. They said this should continue until the BOJ's price stability target is successfully achieved.
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Summary
Bank of Japan officials opposed a policy change to curb the yen's decline, citing inappropriateness for controlling foreign exchange rates. They maintain the need for monetary easing until price stability is achieved, with one official attributing the yen's recent depreciation to economic
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ID: 627ce0d4-6eac-4ba6-b9ec-5cf6c0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220512_24/
Date: May 12, 2022
Created: 2022/05/12 19:26
Updated: 2025/12/09 16:25
Last Read: 2022/05/12 19:26