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LDP Policy Chief Takaichi Says Now Is Not The Time For Yen Intervention

JAPAN

Head of the Policy Research Council at Japan's ruling Liberal Democratic Party Sanae Takaichi told Fuji TV Sunday that now would not be the right time for the authorities to intervene in FX markets to prop up the yen.

  • Takaichi, a former contender for LDP leadership and a known conservative, described recent yen weakness as an opportunity to attract foreign tourists and increase the competitiveness of Japan's agricultural exports.
  • She spoke after the representatives of Japan's top financial institutions issued a joint written statement Friday, expressing their concern about the sudden depreciation of the yen. They said a "wide variety of options" were on the table, fuelling speculation on a potential intervention.
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Head of the Policy Research Council at Japan's ruling Liberal Democratic Party Sanae Takaichi told Fuji TV Sunday that now would not be the right time for the authorities to intervene in FX markets to prop up the yen.

  • Takaichi, a former contender for LDP leadership and a known conservative, described recent yen weakness as an opportunity to attract foreign tourists and increase the competitiveness of Japan's agricultural exports.
  • She spoke after the representatives of Japan's top financial institutions issued a joint written statement Friday, expressing their concern about the sudden depreciation of the yen. They said a "wide variety of options" were on the table, fuelling speculation on a potential intervention.