Bank of Japan Gov. Haruhiko Kuroda said he will stick with monetary easing, signaling no change in stance after the yen continued its rapid slide in the past week and dropped to a fresh 32-year low.
"The BOJ considered it appropriate to continue with monetary easing, to support the economy, to ensure a shift in norms and to ensure the price stability target in a sustainable and stable manner,” Kuroda said at a Group of Thirty seminar in Washington on Saturday.
Kuroda reinforced his message on policy following a turbulent week for the currency, with his earlier comments on holding at ultralow interest rates helping weaken it further. The country’s top currency chief, Masato Kanda, signaled Friday that chances are rising for authorities to intervene to support the yen, following a similar action last month.