TOKYO -- The yen's recent slide to a three-year low against the dollar has Japan worried that this could hurt business and consumer sentiment by making things more expensive amid skyrocketing commodity prices. But on Thursday, Bank of Japan Gov. Haruhiko Kuroda dismissed this, saying a weak yen does more good than harm.
Speaking after a two-day monetary policy meeting, he noted the positives of a weaker yen, which boosts the value of overseas corporate earnings when converted into the Japanese currency. "The positive impact substantially outweighs the negative," he said. "The current yen weakness is positive for the economy, without a doubt."