TOKYO : Top officials from the Ministry of Finance, Bank of Japan and the financial watchdog are set to meet on Tuesday to discuss financial markets, the ministry said, after the Japanese currency weakened to a six-month low versus the dollar.The three-party talks are held routinely to signal the authorit
TOKYO : Top officials from the Ministry of Finance, Bank of Japan and the financial watchdog are set to meet on Tuesday to discuss financial markets, the ministry said, after the Japanese currency weakened to a six-month low versus the dollar.
Such talks were last held in mid March and tend to take place when the yen suffers sharp swings, either up or down. The three-way talks were used last year to warn against excessive weakening of the Japanese currency, which drives up import costs and deals a blow to private consumption that makes up more than half the economy, the world's third largest.
Usually, a strong yen tends to be a matter of concern for policymakers, due to the export-reliant nature of the Japanese economy, as this would undermine export-price competitiveness.A weak yen has driven up import bills, sending Japan's trade balance into persistent deficit and undermining Japan's purchasing power.
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