Monday saw the Japanese yen slip in value against the majority of its rivals after the governor of the central bank of the Pacific Rim nation said he now is endowed with the freedom to continue moving forward with efforts to continue confronting inflation, Bloomberg reports.
After no Group of 20 nation criticized Japan for its aggressive monetary easing program, the yen lost value against 15 of its 16 top counterparts. Governor Haruhiko Kuroda said Japan will resume its attempts at confronting deflation.
"Winning international understanding gives me more confidence to conduct monetary policy appropriately," the governor of the Bank of Japan told reporters once the Group of 20 meeting adjourned, according to Bloomberg. "We will continue our qualitative and quantitative easing for the next two years."
Finance chiefs and central bankers of the globe's 20 wealthiest nations late last week in Washington said they support the country's efforts to spur inflation to 2 percent within a period of 24 months.
But as the yen lost value on Monday, The Wall Street Journal reports Japanese stocks increased in value.
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