Japan finance minister Suzuki
- Weak yen has pros and cons
- Weak yen could push up import prices and have negative impact on consumers, firms
- Rapid fx moves undesirable
- Closely watching fx moves with a high sense of urgency
- Desirable for fx to move stably reflecting fundamentals
- Disorderly fx moves
- In close communication with top currency diplomat Kanda
- We are analysing background of what is driving fx moves
- There is chance fx will be discussed at next week's G20 meeting
- Govt hopes to take appropriate steps to minimise impact of weak yen on households
A discussion, to the 'chance' of a discussion, at the G20 would represent an escalation of the threat of intervention. Just a little.
I posted earlier on JPY intervention:
