Japan’s Finance Minister Katayama is "alarmed" over FX moves.
Japan’s Finance Minister Katayama said the government’s stimulus package has grown sizable, though she would not reveal its scale, and argued that negative GDP growth justifies additional fiscal support.
On currencies, struck a more pointed tone,
- is "alarmed" about recent forex moves
- recently seeing one-sided, rapid moves in forex
The use of such words (bolded by me) is an escalation of verbal intervention.
- emphasising that it is important for exchange rates to move in a stable manner consistent with fundamentals
- added that the government is watching markets closely as it finalises its fiscal stance.
