TOKYO: Japan’s government must take steps as needed against excessive declines in the yen, deputy key cabinet secretary Seiji Kihara said on Sunday (Sep 11), repeating authorities’ warnings about the currency’s glide to 24-year levels.
“As for excessive, one-sided currency moves, we are going to closely watch advancements and must take steps as needed, ” Kihara told a television programme, when asked about the yen’s recent falls.
The yen has recently fallen to 24-year lows against the money, as investors concentrate on the widening divergence between the U. Ersus. Federal Reserve’s intense interest rate hikes and the Bank of Japan’s (BOJ) pledge to maintain ultra-low rates.
“I won’t discuss monetary and interest-rate policy, as they fall under the jurisdiction from the BOJ, ” Kihara said.
Kihara also said the federal government will consider “in the not so faraway future” steps to more open Japan’s borders to overseas website visitors, such as by scrapping a cap at the daily number of traders.
“A vulnerable yen is best in attracting incoming tourism, ” Kihara said, adding that further steps should be taken to draw in more foreign tourists to the country.