Japanese Finance Minister Jun Azumi said on Tuesday it is a mistake to assume there will be a vacuum in currency policy because he will be taking up a new position next month in the ruling Democratic Party.
Azumi, speaking to reporters, also said he stands ready to take firm measures on currencies as long as he is finance minister.
There may be some speculative currency moves in the short term, but monetary easing by the Bank of Japan is likely to have a strong impact in the mid- to long-term, he said.
Azumi will become acting secretary general of the ruling Democratic Party as Prime Minister Yoshihiko Noda makes personnel changes to prepare for an election.
Via – Reuters
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015