31 October 2001, 08:51  Stronger yen could undermine Japan economy - BoJ director

HONG KONG (AFX-ASIA) - Bank of Japan executive director Masayuki Matsushima said a stronger yen could undermine Japan's economic growth, but added that the Japanese central bank has no plan to weaken the yen. Speaking during a question-and-answer session at the World Economic Forum East Asia Summit here, Matsushima said with Japan's current economic problems, any appreciation of the yen could undermine its economic recovery. "There is no reason for the yen to appreciate," he said, adding that the central bank has no intention of manoeuvring for a weaker yen.

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