Bank of Japan Governor Ueda Kazuo said at a news conference on Friday that the weaker yen has not had a major impact on the central bank's inflation target so far. This came after the BOJ decided to keep its monetary policy unchanged.

Ueda also said: "Monetary policy does not directly control exchange rates. Exchange-rate fluctuations are just one of the important factors that affect the economy and prices. If there is an impact on the basic inflation rate that cannot be ignored, it will be considered or possibly used as a basis for making decisions in terms of monetary policy."

Ueda added the BOJ will keep monitoring foreign exchange markets and their impact on the economy.