The Japanese yen tumbled versus the U.S. dollar and other major rivals Friday after newly appointed Bank of Japan Gov. Kazuo Ueda signaled he’s in no rush to abandon the central bank’s ultraloose policy settings.
In its first meeting chaired by Ueda, the BOJ on Friday said it would spend one year to 18 months on a review of monetary policy. It called the review necessary because “achieving price stability has been a challenge for a long period of 25 years.”
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