Kuroda quells controversy over his yen comment

Tokyo

BANK of Japan (BOJ) governor Haruhiko Kuroda sought on Friday to quell the controversy caused by his recent comment that the real effective exchange rate of the yen had fallen to levels not seen since the 1980s. The comment made to Japan's Parliament sparked a sudden, sharp correction in the yen's downward slide.

Mr Kuroda spoke after a regular meeting of the BOJ's Policy Board at which it was decided by a majority of eight to one, to maintain the central bank's current aggressive monetary easing stance. The Policy Board also maintained a basically upbeat view of the Japanese economy