Kuroda’s Toolkit Hasn’t Weakened the Yen Since October: Chart

Bank Of Japan Governor Haruhiko Kuroda Speaks At The Kyodo Meeting

Haruhiko Kuroda.

Photographer: Akio Kon/Bloomberg

Bank of Japan Governor Haruhiko Kuroda’s 45th meeting as head of the central bank comes at a time when the yen’s resilience in the face of unprecedented easing -- and negative-interest rates -- has spurred speculation that he’s nearing the limits of what monetary policy can achieve. The two biggest reactions to BOJ policy came after his inaugural gathering and following the October 2014 meet, both of which saw policy makers surprise with the scope of their additional stimulus. Now, with the yen climbing after each of the past seven BOJ announcements, the stakes may never be higher.

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