Bank of Japan Governor Haruhiko Kuroda said on Wednesday that the rapid and one-sided downward moves in the yen were a negative for Japan's economy as it increased uncertainties and made it difficult for business planning.

“It is vital for foreign exchange rates to move stably reflecting economic and financial conditions,” Kuroda told lawmakers at the Upper House budget committee.

He added that as long as the weak yen moves in a stable manner, it will have a positive impact on Japan’s economy as a whole, although the impact varies depending on industries and the size of firms.