Reuters survey shows more than a third of them want interest rate hikes
TOKYO, May 23 - Nearly half of Japanese firms find the yen 's slide beyond 155 to the dollar harmful to their business, roughly double the percentage of those who see the currency's weakness as a positive, a Reuters survey showed on Thursday.
The yen has lost roughly 10 per cent against the dollar so far this year despite the BOJ's decision in March to end eight years of negative rates. The weak yen has become a headache for policymakers by cooling Japanese domestic consumption. While a boon for exporters and inbound tourism, it increases import costs, adds to inflationary pressures and squeezes households.
To guard themselves against the yen's depreciation, almost two-thirds of the respondents are looking into raising prices of their products, while 16pc are considering switching to the domestic procurement of parts and raw materials, the poll showed.
Weak Yen Weak Japanese Currency Japanese Firms Japanese Companies Japan Interest Rates Japanese Domestic Consumption Japan Inflation
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