On Wednesday, Japan's Finance Minister Shunichi Suzuki stated during a press conference that necessary measures would be taken in response to the yen's exchange rate against the dollar, which has fallen to its lowest point in 38 years.
Suzuki further elaborated that the Japanese government is extremely concerned about the potential impact of the yen's depreciation on the economy. The yen's depreciation could not only increase the cost of imported goods, leading to a rise in domestic prices, but also have complex effects on Japan's export industry. While depreciation can somewhat enhance the competitiveness of export goods, its negative impact on the overall economy cannot be ignored.
Suzuki emphasized that the government is closely monitoring the dynamics of the foreign exchange market and is prepared to intervene if necessary to prevent further depreciation of the yen. He indicated that Japanese authorities are examining market fluctuations with a high sense of urgency and are ready to take action at any time to ensure economic stability and healthy development.
Additionally, Suzuki mentioned that the government may collaborate with other international financial institutions to address the current exchange rate fluctuations. He stated that the government will continue to closely monitor changes in the global economic situation and take flexible measures as needed to protect the national economic interests.
