Yen plunges to lowest in over 14 years against euro after BOJ decision

Bank of Japan stands pat ahead of another expected ECB rate hike

20230428N Yen

The yen weakened against the euro and the dollar after the Bank of Japan decided to maintain its ultraloose monetary policy. © Reuters

HIROFUMI TAKEUCHI, Nikkei staff writer

NEW YORK -- Japan's currency weakened to more than 150 yen to the euro at one point Friday, a level not seen since October 2008, in a sharp sell-off after the Bank of Japan kept its ultraeasy monetary policy unchanged.

"We want to persist a little longer" in order to achieve a stable and sustained rise in prices, recently installed BOJ Gov. Kazuo Ueda told a news conference following a two-day policy meeting.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.