TOKYO -Japan's Finance Minister Shunichi Suzuki said on Tuesday there was no policy contradiction between the finance ministry's yen-buying to support the currency and the Bank of Japan printing money to sustain its ultra-loose monetary policy.
Suzuki made the remarks at a news conference when asked whether the BOJ's monetary easing may cause excessive yen weakening and whether the policy mix between the government and the central bank was having the intended effects. Japan has been conducting yen-buying interventions in the foreign exchange market to defend the yen against sharp declines, which have been driven in part by the widening divergence between Japanese and U.S. interest rates.
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