Japan Finance Minister Signals Urgency Over Yen Weakness
Finance Minister Satsuki Katayama told parliament the government is monitoring the yen's slide with urgency. She is also coordinating closely with the U.S.
The Finance Minister of Japan, Satsuki Katayama, signaled a heightened level of vigilance regarding the recent performance of the national currency on Friday. Speaking before parliament, Katayama emphasized that the government is monitoring the ongoing slide of the US Dollar / Japanese Yen exchange rate with a profound sense of urgency.
The minister's comments came in response to inquiries regarding whether the depreciation of the yen is negatively impacting domestic wage growth by driving up the costs of imported goods. Katayama assured lawmakers that the administration is staying alert to market volatility.
We are watching recent movements very closely, with a strong sense of urgency, Katayama told parliament.
Furthermore, the Finance Minister highlighted the importance of international coordination to address currency fluctuations. She noted that Japanese officials are in constant contact with their counterparts in the United States to manage potential economic risks.
We are also maintaining extremely close communication with the United States, and will continue engaging in dialogue to ensure that the concerns you raise do not materialise, she said.
