- Sharp FX moves are undesirable, stability is important
- Government closely watching the impact of a softer yen on the economy
- Not up to government to answer why yen has been weakening
- Monetary policy is up to BOJ to decide (on whether to respond against a weaker yen)
The lack of conviction here speaks for itself. It just reaffirms that there isn't much appetite among Japanese officials to step in strongly on the matter. That said, it's not like they have much of a choice now do they?
