Jens Weidmann, president of Germany's central bank, has expressed concern about additional monetary easing steps taken by the Bank of Japan, citing it as an example of the government meddling in the central bank's business.
In a Monday speech posted on the Deutsche Bundesbank's website, Weidmann cited Japan and Hungary as examples "where the new government intervenes heavily in the business of the central bank, calls for a more aggressive monetary policy and threatens the autonomy of the central bank."
In the currency market, the yen has been losing ground against the euro since late last year, as it became apparent that the government would be led by Shinzo Abe, who champions a bold monetary policy to weaken the currency as a way to boost the economy.