Shirakawa Signals Japan Recovery Withstanding Yen’s Advance

Bank of Japan Governor Masaaki Shirakawa indicated the nation’s recovery has been resilient to the yen’s advance, supporting his board’s decision to keep policy unchanged today.

“We are well aware that the yen’s strength is a downside risk for corporate sentiment,” Shirakawa told reporters after the bank kept the benchmark rate at 0.1 percent and maintained the current size of its credit programs for lenders at a meeting in Tokyo today. “On the other hand, we have to assess the currency’s effect on the economy in a well-balanced manner.”