February 9, 2017 / 5:46 AM / 8 months ago

BOJ doesn't use monetary policy to manipulate FX: Nakaso

KOCHI, Japan (Reuters) - Bank of Japan Deputy Governor Hiroshi Nakaso said on Thursday the central bank does not use monetary policy to manipulate exchange rates.

“The BOJ guides monetary policy solely for the purpose of achieving its inflation target at the earliest date possible. It does not target exchange rates,” Nakaso told a news conference.

Japanese policymakers were shocked by accusation from U.S. President Donald Trump that Tokyo is using “money supply” for currency devaluation, a sign his criticism could distract the BOJ from its years-long efforts to revitalize the economy.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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