BoJ Governor Haruhiko Kuroda told the parliament today, “I don’t think the BOJ’s monetary policy was the factor behind a rapid yen weakening. The recent yen weakening may have been driven by an abnormal situation where oil prices topped $130 per barrel.”
He also said that the rapid depreciation of Yen was “undesirable”. But the situation was improving with Dollar easing back to around 127 Yen.
Meanwhile, Kuroda also repeated the pledge to maintain powerful monetary easing to help the economy from recovering.
