Economics Minister of Japan Heizo Takenaka said on Thursday that the yen's current rate was not out of line with economic fundamentals, despite its recent steep fall.
Published:
28 December 2001 y., Friday
The yen was weakening against the dollar because an economic recovery in the United States was anticipated earlier than first expected, he said. "In that sense, considering Japan's fundamentals, there are no factors that would prevent (a weak yen)," he added.
Comments by Japanese officials seen as condoning a steady fall in the yen have fanned speculation that the government is eyeing a weaker currency as a convenient way to help lift the economy from recession.
In Tokyo trade on Thursday, the dollar advanced to fresh three-year highs above 132 yen at one point.
On the fiscal front, Takenaka said he saw no need for an additional fiscal stimulus in fiscal 2002/03 and beyond.
Šaltinis:
Reuters News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An aviation agreement has been signed today by the European Union and the Vietnamese authorities which will remove nationality restrictions in the bilateral air services agreements between EU Member States and Vietnam.
more »
The European Investment Bank marked the 50th anniversary of the Republic of Cyprus and its 30 years of activity in the country with a public ceremony celebrating the signature of a total of EUR 180 million for urban environment.
more »
In response to the financial crisis, the Commission has put forward legislative proposals to strengthen and expand existing tools for coordinating economic and fiscal policy in the EU.
more »
In the first meeting of the SME Finance Forum, possible means to improve the current situation of access to finance were discussed, such as the introduction of a grace period for firms in difficulties, the involvement of credit mediators and improved loan guarantees.
more »
The EU budget is no simple matter, but then no budget ever is.
more »
Parliament will be crucial in avoiding a “lowest common denominator” approach when helping to design the EU's new economic governance architecture, ECB president Jean-Claude Trichet told the Economic and Monetary Affairs Committee on Monday.
more »
With a multitude of language-related events taking place on or around 26 September, the main themes for this year's European Day of Languages are business and jobs.
more »
The EU disbursed today € 1.15 billion to Romania, the third instalment of a € 5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »
The European Investment Bank has agreed to lend GBP250 million for the replacement, reinforcement and expansion of the gas distribution networks operated by Scotland Gas Networks and Southern Gas Networks.
more »
The bargaining positions of all players in the human food chain must be rebalanced, and fair competition enforced by law, to ensure fair returns to farmers and price transparency to consumers, says Parliament in a resolution voted on Tuesday.
more »