January 25, 2018 / 11:53 PM / 4 months ago

BOJ's Kuroda says forex rates should reflect fundamentals: Kyodo

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said there was a shared agreement among Group of Seven advanced economies that currency rates should move stably reflecting economic fundamentals, Kyodo news agency reported.

Kuroda’s remarks were made to reporters in Davos on Thursday, when asked about U.S. Treasury Secretary Steven Mnuchin’s comments that a weak dollar was good for the U.S. economy, Kyodo reported.

Kuroda also shrugged off lingering market speculation that the BOJ would dial back its huge stimulus program earlier than expected.

“There is still quite some distance to our 2 percent inflation target. It’s inappropriate to talk about an exit strategy or a change in policy,” Kuroda said.

Reporting by Leika Kihara; Editing by Shri Navaratnam

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