- Japan’s Top Currency Diplomat: Weak yen has merits and demerits for economy
Market news
1 February 2022
Japan’s Top Currency Diplomat: Weak yen has merits and demerits for economy
Commenting on the yen, Japan's top currency diplomat Masato Kanda said a weak yen has its merits and demerits for the economy.
Additional quotes
There are both positive and negative effects of a weak yen, it's hard to say which is bigger.
Weak yen pushed up the import cost of energy and food, increasing household burdens.
The value of a weak yen for exporters isn't as strong as in the past because they're not competing on low-cost items on price.
We need to guide policy and understand that the way the exchange rate affects the economy has changed.
Read: USD/JPY snaps two-day downtrend to regain 115.00 as Japan diplomat discusses weak yen
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