JAPANESE FINANCE MINISTER SHOWS BROADER CONCERN ABOUT YEN WEAKNESS
Official said the slower pace of local currency depreciation, not just sharp movements, is not desirable for the Japanese economy
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The Finance Minister of Japan's Shunichi Suzuki showed broader concern about the weakness of the yen.
the official said the slower pace of local currency depreciation, not just sharp movements, is not desirable for the Japanese economy.
“I am very concerned about the gradual weakening of the yen” because a weaker yen could accelerate inflation in Japan, increasing the cost of imports, Suzuki said in Parliament.
Previously, he had repeatedly said he could not tolerate rapid, speculative currency declines.
This Wednesday, Suzuki reiterated that it would act on the foreign exchange market if there are excessive movements.
