TOKYO- Some members of the Bank of Japan’s (BOJ) policy board said in October the yen’s weakening would have a positive effect on the Japanese economy as a whole even though its impact on boosting exports was not as strong as before, the minutes of a meeting showed.
At the Oct. 27-28 meeting, the nine-member board debated the impact of a weak yen on the Japanese economy, and one member noted that they should bear in mind the currency’s impacts are uneven depending on sectors and the size of business, the minutes showed on Wednesday.
“A few members said the effects of the weak yen pushing up exports have weakened from before, but that they are exerting a positive impact on the Japanese economy as a whole via increase in business profits overseas and stock prices,” the minutes showed.
Another member said the weak yen reflects differences in inflation and monetary policy stances in each country, so various channels must be examined such as the real economy and financial markets. – Reuters
