Japan will retain its basic approach on the yen with intervention remaining an option to tackle excessively volatile moves in the exchange rate.
with intervention remaining an option to tackle excessively volatile moves in the exchange rate, the country's new top currency diplomat Atsushi Mimura told Reuters.
Previously head of the ministry's international bureau, the 57-year-old became vice finance minister for international affairs on Wednesday — a post that oversees Japan's currency policy and coordinates economic policy with other countries. "A change in vice finance minister for international affairs doesn't mean a change in basic policy for not just foreign exchange but various things as they are decided by the finance ministry as an institution," Mimura said.
Mimura said it is true that the yen's effective exchange rates have weakened due to decades of deflation, and the only and natural solution is to improve Japan's economic competitiveness and boost the country's growth potential.
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