February 6, 2013 / 5:51 AM / 5 years ago

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

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.

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