BOJ's Noguchi: JPY currency (Yen) decline late last year was too rapid; FX should move stably reflecting fundamentals; Monetary policy does not directly target FX
- YCC tweak in Dec was not tightening
- Important for wages to rise continuously, desirable for wages next year to rise more than this year
- Personally, think its necessary for nominal wages to rise more than 2% inflation target
- Next Spring wage talk results need to be better
- Overseas growth likely to slow toward next year, so its important for domestic demand to underpin Japan's recovery
- A weak JPY (yen) hurts households via rising prices, but benefits firms via increase in overseas profits and a rise in inbound tourism