Prime Minister Shinzo Abe pledged Tuesday to take necessary measures to avoid adverse effects of the yen's depreciation on the economy, indicating some domestic policymakers have become cautious about the sharp moves in the currency's rate.
"We'll monitor the impact on companies and households of material price hikes" triggered by the weaker yen, Abe said during the current Diet session. "We'll make efforts to prevent (the yen's sharp slide) from strongly exerting a harmful influence (on the economy)."
With new Bank of Japan Gov. Haruhiko Kuroda acting drastically to achieve within two years the 2 percent inflation target the central bank adopted in January, the dollar crossed the ¥99 line Monday for the first time since May 2009.