Japan finance minister Suzuki
- Weak yen has pros and cons
- Weak yen could push
up import prices and have negative impact on consumers, firms - Rapid fx moves
undesirable - Closely watching fx
moves with a high sense of urgency - Desirable for fx to
move stably reflecting fundamentals - Disorderly fx moves
- In close
communication with top currency diplomat Kanda - We are analysing
background of what is driving fx moves - There is chance fx
will be discussed at next week’s G20 meeting - Govt hopes to take
appropriate steps to minimise impact of weak yen on households
A discussion, to the ‘chance’ of a discussion, at the G20 would represent an escalation of the threat of intervention. Just a little.
I posted earlier on JPY intervention:
