TOKYO Aug 1 Japanese Finance Minister Jun Azumi
said on Wednesday the central bank should not buy foreign assets
for the purpose of affecting currency rates, which falls under
the jurisdiction of the finance ministry.
"It would be inappropriate for the Bank of Japan to buy
foreign assets as a substitute for currency intervention," Azumi
said in a parliamentary committee.
Some lawmakers have argued that the BOJ should buy foreign
assets to weaken the yen and thus support the export-reliant
Takehiro Sato, one of the two new members of the BOJ's
policy board, said last month that purchasing foreign bonds
could be one future policy option as long as the central bank
made it clear that it was providing liquidity and not trying to
The dollar hit a two-month low against the yen on Wednesday,
falling as low as 77.90 yen on trading platform EBS, its lowest
level since June 1.