Japan leaves yen weak alone despite above-target inflation

TOKYO—The yen is near its lowest level against the dollar in nearly a quarter century, but Bank of Japan Govt. Haruhiko Kuroda said on Thursday that he was not inclined to fight the market to push the Japanese currency higher.

“Any small rate hike will likely stop the yen’s depreciation,” Kuroda told a news conference after Japan’s central bank renewed its commitment to ultra-low interest rates. “If we want to stop the fall of the yen by interest rates alone, it should be a big increase, and it will probably cause serious damage to the economy.”


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