BOJ: Don't plan to weaken Yen by intervention

JAPAN - The Bank of Japan has no plan to intervene in currency markets to weaken the yen as a way to ease Japan's debilitating deflationary conditions, a senior BOJ official said Wednesday.

"We don't have any intention of inducing the yen weaker by manoeuvring (or) by intervention in the foreign exchange market," said BOJ executive director Masayuki Matsushima.

In September, the BOJ intervened to drive the Japanese currency lower, selling yen for dollars and euros in a series of foreign exchang

To continue reading...