• Reuters

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A Bank of Japan policymaker said it was inappropriate to change monetary policy for the purpose of controlling exchange rates, a summary of opinions at the April meeting showed, brushing aside the idea of countering sharp yen falls with interest rate hikes.

The yen’s slide to 20-year lows against the dollar has pushed up the cost of raw material imports, drawing concern among policymakers of the potential hit to Japan’s fragile economic recovery.

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