Takaichi Vows to Boost Economic Competitiveness Amid Yen Concerns
Japanese Prime Minister Sanae Takaichi has pledged to maintain market confidence in the yen by improving the country's economic competitiveness. She made this commitment after meeting with US President Donald Trump last month, during which she pointed out that the yen's undervaluation was a problem.
Takaichi emphasized that Japan's economic policy is not aimed at manipulating exchange rates but rather at boosting the country's growth potential through increased investment in crisis management and growth areas. She stated that her administration aims to increase the economy's supply capacity, which should underpin the yen's value.
In related news, the S&P Global Japan Manufacturing Purchasing Managers' Index (PMI) showed a slowdown in September, with the index easing to 54.1 from 54.9 in August. Despite this, employment growth remained solid, and firms signaled only a slight softening in optimism about the outlook.