Bank of Japan policymaker denies targeting a level for the yen

02/6/2013 | Reuters · Xinhuanet.com (China)

Bank of Japan policymaker Takehiro Sato denied that the bank has any specific level for the yen in mind, but did allow that the goal is to reduce the currency's appeal as a safe haven, possibly through a foreign bond buying program in cooperation with the government. Sato also expressed caution about dropping the 0.1% interest rate paid on excess reserves parked at the bank, though he said this remained "a future policy option."

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Reuters · Xinhuanet.com (China)

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