FILE PHOTO: Japanese Finance Minister Shunichi Suzuki arrives for a news conference during the annual meeting of the International Monetary Fund and the World Bank, in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera/File PhotoTOKYO : Japan will take appropriate action against excessive currency movement, Minister of Finance Shunichi Suzuki said on Friday, stressing the importance of stability in the foreign exchange market.
Traders suspect Japan spent around 9 trillion yen in total on April 29 and May 2 to arrest the yen's decline to a 34-year low of 160 to the U.S. dollar, private-sector estimates showed. Suzuki also said higher interest rates could increase the government's interest payment burden and pressure fiscal policy.
A low interest rate environment allowed for smooth debt management, he said."Now we need to step up our efforts to increase fiscal health." We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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