URGENT: Sharp yen falls negative for Japan economy: BOJ chief Kuroda

Sharp yen falls are negative and undesirable for the Japanese economy as they raise uncertainty over the outlook and make it difficult for companies to draw business plans, Bank of Japan Governor Haruhiko Kuroda said Monday.

In a parliamentary session, Kuroda said the BOJ will carefully monitor developments in the currency markets and their impact on the economy and prices, in coordination with the government.

The BOJ chief made the remarks after the yen plunged to a 23-year low against the U.S. dollar.

© Kyodo News