BOJ Sato: central bank not seeking to weaken yen to certain level

MAEBASHI, Japan Wed Feb 6, 2013 12:50am EST

MAEBASHI, Japan Feb 6 (Reuters) - Bank of Japan board member Takehiro Sato said on Wednesday that the central bank is not seeking to directly weaken the yen to a specific level.

"By easing monetary policy through increased asset purchases ... the central bank is aiming to lower interest rates and make the yen less attractive as a safe-haven currency," Sato said in a news conference after meeting business leaders in Maebashi, a city in the eastern Japanese prefecture of Gumma.

He also said scrapping a 0.1 percent floor the BOJ sets on short-term interest rates is among future policy options, but that he would like to scrutinize further the costs and benefits of such a measure.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.