Kuroda strives to address yen weakness

Strategic moves: A man walks across the street from the BoJ headquarters in Tokyo. The central bank is determined to keep interest rates locked near zero despite skyrocketing inflation across the globe. — Bloomberg

TOKYO: Bank of Japan (BoJ) governor Haruhiko Kuroda weighed in with his strongest remarks on the yen in recent days, in an apparent bid to slow down movement in Japan’s weakening currency and its impact on a fragile economy.

“If you look at moves in foreign exchange rates over the longer term such as the past decade, fluctuations have gotten smaller but as pointed out, the recent moves in foreign exchange rates seem somewhat rapid,” Kuroda said in response to questions in parliament yesterday.