© Reuters. FILE PHOTO: New Governor of Bank of Japan Kazuo Ueda meets Japanese Prime Minister Fumio Kishida at prime minister?s official residence in Tokyo, Japan, April 10, 2023. Kimimasa Mayama/Pool via REUTERS
TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda said on Tuesday he explained to Prime Minister Fumio Kishida the central bank’s decision last month to tweak its yield curve control policy.
Speaking after the meeting with Kishida, Ueda said the two did not discuss recent volatility in the currency market.
The dollar has been hovering above 145 yen, a level that in September 2022 triggered Japan’s first yen-buying operation since 1998.
A week ago, Finance Minister Shunichi Suzuki warned against excessive volatility and said authorities would “respond appropriately to excessive moves”, but officials have mostly refrained from commenting on foreign exchange rates since.
