BOJ Holds Emergency Meeting as Yen Threatens Growth

The Bank of Japan held an emergency board meeting today as the yen’s surge to a 15-year high forces policy makers to find ways to support the nation’s slowing expansion.

Governor Masaaki Shirakawa and his board were scheduled to gather at 9 a.m. “to discuss monetary control matters based on recent economic and financial developments,” according to a central bank statement. Shirakawa returned yesterday to Tokyo, cutting short a U.S. trip by one day after Prime Minister Naoto Kan said he expected the bank to implement policy “swiftly.”