Japan finance minister Suzuki

  • Weak yen has pros and cons
  • Weak yen could push up import prices and have negative impact on consumers, firms
  • Rapid fx moves undesirable
  • Closely watching fx moves with a high sense of urgency
  • Desirable for fx to move stably reflecting fundamentals
  • Disorderly fx moves
  • In close communication with top currency diplomat Kanda
  • We are analysing background of what is driving fx moves
  • There is chance fx will be discussed at next week's G20 meeting
  • Govt hopes to take appropriate steps to minimise impact of weak yen on households

A discussion, to the 'chance' of a discussion, at the G20 would represent an escalation of the threat of intervention. Just a little.

chance

I posted earlier on JPY intervention: