Bank of Japan Governor Kazuo Ueda said on Friday it was hard to say decisively that a weak yen was negative for the country's economy.

"It's true a weak yen has a negative effect by accelerating rises in domestic inflation through an increase in import costs," Ueda told parliament.

"On the other hand, a weak yen has positive effects such as boosting exports, inbound consumption and profits of globally operating Japanese companies," he said. (Reporting by Leika Kihara Editing by Chang-Ran Kim)