Japan FinMin: Govt Ready To Take Decisive Measures On Currency
9/8/2010 3:43 AM ET
(RTTNews) - The Japanese government will take decisive measures if necessary to control the appreciation of the yen against the dollar after the yen soared to a 15-year high, finance minister Yoshihiko Noda said Wednesday. The minister told lawmakers that those measures include foreign-exchange market intervention.
The central bank is ready to take additional measures, provided the downside risks materialize and the economy worsens at a faster pace, Bank of Japan governor Masaaki Shirakawa reportedly said in parliament. He expressed concern over the strong yen.
Yesterday, at the policy board meeting, the BoJ pledged to maintain an extremely accommodative financial environment. It also promised to take more policy actions if judged necessary to kickstart the economy.
The dollar hit 83.50 versus the yen on Tuesday, extending its lowest levels since 1995. Its previous 15-year low was 83.58, registered in August.
9/8/2010 3:43 AM ET
(RTTNews) - The Japanese government will take decisive measures if necessary to control the appreciation of the yen against the dollar after the yen soared to a 15-year high, finance minister Yoshihiko Noda said Wednesday. The minister told lawmakers that those measures include foreign-exchange market intervention.
The central bank is ready to take additional measures, provided the downside risks materialize and the economy worsens at a faster pace, Bank of Japan governor Masaaki Shirakawa reportedly said in parliament. He expressed concern over the strong yen.
Yesterday, at the policy board meeting, the BoJ pledged to maintain an extremely accommodative financial environment. It also promised to take more policy actions if judged necessary to kickstart the economy.
The dollar hit 83.50 versus the yen on Tuesday, extending its lowest levels since 1995. Its previous 15-year low was 83.58, registered in August.
