Takaichi Vows Appropriate Action on Rapid Yen Fall

Tokyo, Dec. 9 (Jiji Press)–Japanese Prime Minister Sanae Takaichi said Tuesday that the government will respond appropriately to excessive foreign exchange rate movements, including the yen’s rapid depreciation. “We will take appropriate measures as necessary against excessive fluctuations and disorderly movements (on the currency market), including speculative trading,” she said at a meeting of the Budget Committee of the House of Representatives, the lower chamber of the Diet, the country’s parliament. Satoshi Honjo, policy chief of the leading opposition Constitutional Democratic Party of Japan, called attention to spikes in long-term interest rates and the yen’s depreciation since the inauguration of Takaichi, who advocates a “responsible and proactive” fiscal policy. Takaichi countered, saying, “It is difficult to discuss the impact on the market by focusing solely on fiscal policy.” Regarding Japan-China relations, which have worsened following Takaichi’s recent remarks on a potential Taiwan contingency, the prime minister stressed that there is “no change in our policy of reducing pending issues and increasing understanding and cooperation.” “We will closely monitor the situation and respond appropriately,” she said. END [Copyright The Jiji Press, Ltd.]