The Bank of Japan should pay close attention to currency levels because its efforts to hold down interest rates are weakening the yen, according to a senior member of the Japanese ruling coalition party Komeito.
¡°From the point of view of the economy, I understand why they are holding down interest rates,¡± said Keiichi Ishii, secretary-general of Komeito, the junior partner to Prime Minister Fumio Kishida¡¯s ruling Liberal Democratic Party.
¡°But the side effects of that are reflected in exchange rates,¡± he said in an interview with Bloomberg News in Tokyo on Friday. ¡°How far can the side effects be tolerated? If the yen goes too low, things will be tough, so I want the BOJ to pay close attention to exchange rates.¡±
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