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Japan closely monitoring weak yen and bond market, finance minister says

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TOKYO: Japanese Finance Minister Shunichi Suzuki said on Tuesday (May 21) he was concerned about the negative implications of the current weakness in the yen and its effect on incentives to increase wages. "One of our major goals is to achieve wage increases that exceed the rise in prices," Suzuki said.

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, following last month's deadly earthquake, in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera/File photoTOKYO: Japanese Finance Minister Shunichi Suzuki said on Tuesday he was concerned about the negative implications of the current weakness in the yen and its effect on incentives to increase wages.

While a weak yen is a boon to exporters, it has become a headache for Japanese policymakers as it hurts consumption by pushing up the cost of raw material imports.

 

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