TOKYO: Japan's government must take steps as needed against excessive declines in the yen, deputy chief Cabinet secretary Seiji Kihara said on Sunday (Sep 11), repeating authorities' warnings about the currency's slide to 24-year lows.
"As for excessive, one-sided currency moves, we will closely watch developments and must take steps as needed," Kihara told a television programme, when asked about the yen's recent falls.
The yen has recently fallen to 24-year lows against the dollar, as investors focus on the widening divergence between the U.S. Federal Reserve's aggressive interest rate hikes and the Bank of Japan's (BOJ) pledge to maintain ultra-low rates.
"I won't comment on monetary and interest-rate policy, as they fall under the jurisdiction of the BOJ," Kihara said.
Kihara also said the government will consider "in the not so distant future" steps to further open Japan's borders to overseas visitors, such as by scrapping a cap on the daily number of entrants.
"A weak yen is most effective in attracting inbound tourism," Kihara said, adding that further steps must be taken to draw in more foreign tourists into the country.
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2022-09-10 23:24:00Z
CBMijAFodHRwczovL3d3dy5jaGFubmVsbmV3c2FzaWEuY29tL2FzaWEvamFwYW4tbXVzdC10YWtlLXN0ZXBzLWFnYWluc3QtZXhjZXNzaXZlLW9uZS1zaWRlZC15ZW4tbW92ZXMtc2F5cy1kZXB1dHktY2hpZWYtY2FiaW5ldC1zZWNyZXRhcnktMjkzMTQ1MdIBAA
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