Bank of Japan Gov. Haruhiko Kuroda has carefully ramped up his warnings on sharp yen moves as he tries to ensure that cracks don’t emerge between the government and the central bank on the need to continue with monetary stimulus.
"Recent yen moves have been very rapid,” Kuroda said in response to questions in parliament Monday. "That can cause trouble for companies when they make their business plans and we will need to take into account negative factors like these.”
Finance Minister Shunichi Suzuki also weighed in during the same parliamentary session, reiterating his view that excessive and disorderly swings in the currency, which is hovering at a 20-year low, can be negative. Last week he characterized sudden changes as "very problematic” and said a weak yen could be bad for the economy as the government firmed up its stance on the currency.