Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Ex-BOJ chief Kuroda sees recent yen falls as excessive, Nikkei says

Published 04/02/2024, 05:32 AM
Updated 04/02/2024, 05:36 AM
© Reuters. Bank of Japan (BOJ) Governor Haruhiko Kuroda leaves after his last news conference as Japan's central bank chief at the BOJ headquarters in Tokyo, Japan April 7, 2023.  Toru Kawata/Pool via REUTERS/File Photo

TOKYO (Reuters) - Former Bank of Japan (BOJ) Governor Haruhiko Kuroda told an informal panel that recent yen declines were excessive, and that there was a possibility authorities could intervene in the currency market, the Nikkei newspaper reported on Tuesday.

Kuroda also said the yen was expected to rebound in the medium- to long-term, the paper said, citing several unnamed participants of the closed-door panel held by Columbia University in New York on Monday.

Formerly Japan's top bureaucrat overseeing currency policy in the finance ministry, Kuroda served as BOJ governor for a decade until April 2023.

On the BOJ's decision to end negative interest rates in March, Kuroda welcomed the move as a first step towards normalising monetary policy, according to Nikkei.

Under Kuroda, the BOJ deployed a massive asset-buying programme in 2013 as well as negative interest rates and bond yield control in 2016. The central bank ended these policies at a policy meeting in March.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.