Dollar Should Trade At 90-100 Yen: Former BOJ Official

TOKYO (Nikkei)--The yen should trade at 90 yen to 100 yen to the dollar, Kazumasa Iwata, president of the Japan Center for Economic Research, said during a lecture Thursday at the headquarters of the ruling Liberal Democratic Party.

Iwata, a former deputy governor of the Bank of Japan, said that Japan needs to correct the excessive strength of the yen to achieve the 2% inflation target recently set by the BOJ.

He did not directly respond when asked about rumors that he may become the next BOJ governor, saying only that he was flattered by such speculation. Ultimately, such decisions are up to the Diet and the cabinet, he said.

(The Nikkei, Feb. 14 evening edition)

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