Japan PM: Weak yen has both positive, negative effects on economy

Japan PM: Weak yen has both positive, negative effects on economy

6 October 2014, 09:38
Ronnie Mansolillo
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(Reuters) - Japanese Prime Minister Shinzo Abe said on Monday there are both positive and negative factors to a weak yen, stressing that he will closely monitor the effects on the economy.

"I won't comment on specific exchange-rate levels. But in general, a weak yen hurts some companies by pushing up import costs. On the other hand, it's positive for exporters and companies doing business overseas," Abe told a parliament committee meeting, when asked how excessive yen declines could affect Japan's economy.

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