Bloomberg News

Yamaguchi Says BOJ Isn’t Weighing Immediate Action on Yen

February 02, 2012

(Updates with background in third paragraph.)

Feb. 2 (Bloomberg) -- The Bank of Japan isn’t considering immediate action to respond to the yen’s recent strengthening, Deputy Governor Hirohide Yamaguchi said.

The currency’s moves could affect exports and corporate profits, Yamaguchi told reporters today in Takamatsu, in western Japan.

The BOJ has eased monetary policy in the past to combat the yen’s gains. It intervenes in currency markets at the behest of the finance ministry, which is responsible for setting currency policy.

--Editors: Ken McCallum, Stephanie Phang

To contact the reporter on this story: Toru Fujioka in Tokyo at tfujioka1@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net


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