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BOJ's Iwata: can't say continuously falling yen is good for economy
A continuously falling yen is not a benefit to the Japanese economy, because a weak currency has some negative side effects, Bank of Japan Deputy Governor Kikuo Iwata said on Tuesday. Iwata also said the BOJ is not relying on a weak yen to meet its 2 percent inflation target, in comments before the upper house fiscal and monetary policy committee. "We're trying to achieve inflation accompanied by a rise in wages and productivity," Iwata said. "You can't simply say that the weaker the yen is the better for the economy, because there are some negative aspects of having a weak currency." The link between monetary ... (full story)