Japan finance ministry, BOJ discuss the start of Trump's tenure

Japanese officials tend to prefer a weak currency as this increases exporters' earnings

Image
Reuters Tokyo
Last Updated : Jan 23 2017 | 4:30 PM IST
Top officials from Japan's finance ministry, central bank and financial regulator met on Monday to exchange views on global financial markets, the finance ministry said.

The meeting comes amid uncertainty about how financial markets will respond to U S President Donald Trump, who was sworn into office on Friday.

Officials from the ministry, the Bank of Japan and the Financial Services Agency declined to comment on what was discussed.

Vice Finance Minister for International Affairs Masatsugu Asakawa, Japan's top currency diplomat, and Masayoshi Amamiya, the Bank of Japan's executive director overseeing monetary policy, attended the meeting, the finance ministry said.

On some occasions after similar past meetings, Asakawa has expressed concern about sudden yen appreciation.

Japanese officials tend to prefer a weak currency as this increases exporters' earnings and helps ward off deflation by pushing up import prices.

Still, officials often have to temper their public comments for fear of giving the impression that Japan is trying to competitively devalue its currency, something that the Group of Seven countries actively try to discourage.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 23 2017 | 4:25 PM IST

Next Story