Japan's Finance Minister:
- FX fx moves are partially behind the recent rises in Japan prices, but driven mostly by rising global fuel costs
- the government is taking initiatives to reduce gasoline & fuel prices, and will take whatever steps are necessary to address the impact that rising prices might have on the economy
- its up to the Bank of Japan to decide monetary policy
The FX background to this is of course the declining yen pushing up the price of imports into Japan (such as fuel in this case)
