BOJ’s Nakaso: Extreme FX moves have bad economic impact, G7 agreed

Additional comments flowing in from BOJ’s deputy governor Nakaso, as he speaks in Tokyo this Monday.

Key Quotes:

Declines to comment of FX levels, but does say desirable that the end moves and stable manner

Desirable again reflects economic fundamentals

Extreme FX moves have bad economic impact...as G7 agreed

Cannot comment on forex impact of Brexit

It is important to look at both 1st round and full

pass-through effect when judging of effect of FX on economy

Monetary policy aimed at domestic price stability

Some criticism of negative rates bigger than anticipated