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Japan Finance Minister Suzuki says BOJ has target for inflation, not for FX rates

Japan Finance Minister Suzuki says BOJ has target for inflation, not for FX rates

FILE PHOTO: Japan's Finance Minister Shunichi Suzuki prepares to ring a bell during the New Year ceremony marking the open of trading in 2022 at the Tokyo Stock Exchange (TSE), amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan, January 4, 2022. REUTERS/Issei Kato

TOKYO : The target of the Bank of Japan's monetary policies is stable price inflation, not foreign exchange rates, Japanese finance minister Shunichi Suzuki told a press conference on Friday.

Suzuki was replying to a question about the relationship between the yen's recent weakening and the central bank's ultra-easing.

The government "will take appropriate steps on currency policies in close communication with currency authorities in the United States and others, as currency stability is important and sharp exchange-rate moves are undesirable," Suzuki added, repeating previous remarks made by top Japanese officials.

(Reporting by Kantaro Komiya; Editing by Muralikumar Anantharaman)

Source: Reuters
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