Japan's finance minister said Thursday he wants the Bank of Japan to steer monetary policy in a "decisive" way, in a sign that the government may be unhappy with efforts so far by the central bank to counter the
impact of the rising yen.
"I expect the BOJ to always maintain close communication and cooperation with the government and take appropriate and decisive policy steps," Jun Azumi said during a parliamentary session.
Fears over the health of the global economy have pushed the yen--regarded as a safe-haven--to record highs, fueling concerns that Japanese companies may be forced to shift production overseas, a trend that could eventually weigh on growth.
After falling to an all-time low of Y75.94 last month, the dollar stood at around Y76.70 as of 0750 GMT.
Azumi: Expect BOJ To Act Appropriately, Decisively
Posted by
BorsaStreet.com
on Thursday, September 15, 2011
Elliottwave
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