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Japanese Currency Official Warns Against Unstable FX at G-20.
- Source :
- Bloomberg.com; 2/28/2024, pN.PAG-N.PAG, 1p
- Publication Year :
- 2024
-
Abstract
- Japanese Vice Finance Minister for International Affairs, Masato Kanda, has warned against currency volatility during a meeting with G-20 counterparts in Sao Paulo. Kanda emphasized the importance of foreign exchange rates reflecting fundamentals and expressed concerns about increased volatility in financial markets. The yen recently reached its year-to-date low against the US dollar, prompting Japanese financial authorities to intervene verbally to stabilize the currency. While a weaker yen has benefited exporters, policymakers are cautious about sharp declines that could disrupt the economy and markets. They are also looking for signs of a virtuous cycle linking wage gains to stable inflation as the Bank of Japan considers ending its negative interest rate policy. [Extracted from the article]
Details
- Language :
- English
- Database :
- Complementary Index
- Journal :
- Bloomberg.com
- Publication Type :
- Periodical
- Accession number :
- 175721145