Takaichi Vows to Support Yen with Economic Competitiveness Boost
Japanese Prime Minister Takaichi Sanae is vowing to prop up the yen by boosting the country's economic competitiveness. She believes that increasing Japan's growth potential through bold investment in crisis management and growth areas will strengthen its global competitiveness, thereby helping ensure market confidence in the yen.
Takaichi made her remarks in a recorded interview aired by Nippon Television on Thursday. She also mentioned that she had informed US President Donald Trump about the yen's undervaluation during their meeting last month.
According to Takaichi, Japan's economic policy is not aimed at manipulating exchange rates. The administration aims to boost Japan's growth potential and strengthen its global competitiveness through investment in crisis management and growth areas.
The government's failure to lay out details on how to fund a plan to temporarily suspend a levy on food items has made bond markets jittery. Takaichi said that the budget requests for next fiscal year's budget, totaling 143 trillion yen ($903 billion), will be carefully assessed before being finalized.