Katayama Sees Tax Policy Cooling Japan's Inflation

Japan's Finance Minister Satsuki Katayama said that the government's tax policy would help cool down high inflation. This was stated during the European trading session on Wednesday, where Katayama also mentioned that Japan had secured US backing by effectively handling its policies.

The Defense spending generally has not been finalized until December, and Katayama wants to consider market communication more closely. However, there was no major reaction in the Japanese Yen (JPY) following these remarks from Katayama. At press time, USD/JPY traded marginally higher near 157.85 after recovering early losses.