Bank of Japan Chief Haruhiko Kuroda said, "desirable for currencies to move stably reflecting economic fundamentals" while commenting on the exchange rate value at the post-policy press conference.
Additional quotes
No comment on fx levels.
Want to closely watch impact of currencies on economy, prices.
Need to consider negative impact of excessive currency moves.
Need to fully pay attention to risks from the Ukraine crisis and coronavirus infections.
Downgrade to Japan’s growth projections was in tandem with IMF’s downgrade on global economy.
Not in situation to look for monetary easing exits as cpi figures will gradually rise but will remain below 2% even in 2024.
Can't seek exit from monetary stimulus given only gradual rise in inflation.
Not appropriate to comment on daily fx moves.
Decided on consecutive bond buying operations because we wanted to avoid speculative moves in market.
Cost-push inflation caused solely by higher raw material prices will not be sustainable long-term.
Appropriate for western central banks to tighten given higher inflation, relatively quicker economic recovery from pandemic.
Inappropriate for interest rates to rise above 0.25%.
That doesn't mean that we want to reduce amount of bond buying.
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