Business News

Published: Thursday February 14, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 12:15:17 AM

BOJ's Shirakawa: Bank of Japan policy not directly targeting FX

TOKYO: Bank of Japan Governor Masaaki Shirakawa said on Thursday that the central bank's monetary policy is not directly targeting currency moves.

"The BOJ is conducting monetary policy to achieve stability in Japan's economy. It will continue to do so and I will explain this to the G20 nations," Shirakawa told a news conference ahead of a gathering of G20 finance leaders in Moscow over the weekend.

He declined to comment on whether buying foreign bonds remains a future policy option for the central bank.

The BOJ kept monetary policy steady and raised its assessment of the economy on Thursday, as the yen's recent declines and budding signs of recovery in global demand offer some relief to the export-reliant economy.

Shirakawa has said he would step down on March 19, three weeks before the end of his five-year term, to align with the departure of his two deputies.

Prime Minister Shinzo Abe has said he would fill the vacancies with candidates more eager to pursue bold monetary easing steps. - Reuters

Tags / Keywords: News, Business, Bank of Japan Governor Masaaki Shirakawa, monetary policy, currency moves, Business

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