Japan ready to take decisive action in currency market — Channel NewsAsia

In Japan, Finance Minister Satsuki Katayama said the government is ready to take decisive action in the currency market. Channel NewsAsia reports.

Speech in parliament

She made the statement in Tokyo on Tuesday, October 27, while speaking in parliament. Katayama was asked about the possible impact of the administration's fiscal policy on the yen exchange rate and movements in long-term interest rates.

Market monitoring

According to the minister, Japanese authorities always monitor market movements, including now, with a strong sense of urgency. She also said the government was ready to take decisive action in the currency market.

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The question in parliament concerned specifically the possible impact of the administration's fiscal policy on the yen and long-term rates. Katayama did not name specific steps the government could take in the currency market.

The Channel NewsAsia publication is based on a Reuters report. The source provides no further details about possible actions by the Japanese authorities.