Japan's PM Vows to Boost Yen Confidence Through Economic Policy
Japan's Prime Minister Sanae Takaichi believes her government's policies will boost market confidence in the yen, despite previous efforts to support the currency falling short. Takaichi made this statement on Thursday, citing the undervaluation of the yen as a problem that needs to be addressed.
According to the prime minister, the Japanese economy is not aimed at manipulating exchange rates but rather increasing its growth potential through bold investments in crisis management and growth areas. This approach, she claims, will strengthen Japan's global competitiveness and ensure market confidence in the yen.
The yen has been a concern for policymakers, particularly with its recent weakness pushing up import costs and inflation in Japan. The Japanese government plans to set spending levels consistent with lowering the country's debt-to-GDP ratio and 'appropriately manage' bond issuances to secure funding for fiscal needs.