Japan-BoJ sees positive impact of weak yen on economy-minutes | Photo credits: TK Kurikawa / Shutterstock.com
TOKYO, Dec.22 (Reuters) – Members of the Board of Governors of the Bank of Japan (BoJ) said in October that the weaker yen would have a positive effect on the Japanese economy as a whole, even if its impact on the boost to exports was not as strong as it used to be, a report released on Wednesday shows.
At the October 27-28 meeting, the nine board members discussed the impact of the weak yen on the Japanese economy, and one of them noted that it was important to keep in mind. mind that the impact of the currency was unequal according to the sectors and the size of the companies, it is written in the “minutes”.
Some members said that the increase in exports due to the weaker yen was slowing down, but the Japanese economy was benefiting from the rise in profits of overseas companies and in stock prices resulting from this weakening. “, was it specified.
Another member said the weakness of the yen reflected the differences in inflation and monetary policy in each country, so various parameters needed to be considered such as the real economy and financial markets.
Board members agreed that they would not hesitate to take additional easing measures if necessary, while monitoring the effects of the coronavirus pandemic. (Tetsushi Kajimoto report; French version Camille Raynaud)