BOJ chief says weaker yen is good for Japan

Tokyo

BANK of Japan (BOJ) governor Haruhiko Kuroda on Friday defended the central bank's aggressive monetary-easing tactic for its impact on the yen, arguing that the weaker currency is good for the economy on balance and also that the BOJ's 2 per cent annual inflation target is achievable in "around two years".

He was facing questions in parliament about the BOJ's controversial monetary-easing strategy, which has been criticised for forcing up import costs without triggering an attendant rise in exports and also for eroding real incomes.