Bank of Japan Deputy Governor Masazumi Wakatabe said on Saturday the yen's recent fluctuations were 'clearly too rapid and too one-sided,' signalling caution over the potential economic damage from the currency's slump to 32-year lows against the dollar.
Deputy Governor at the Bank of Japan, Masazumi Wakatabe, speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019.
When asked about the yen's recent sharp declines, the BOJ deputy governor said: "When it comes to foreign exchange fluctuations right now, it's clearly too rapid and too one-sided." Wakatabe said the BOJ must maintain ultra-loose monetary policy because wage growth remains weak and inflation expectations, while rising, have yet to be firmly anchored around its 2% inflation target.
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