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Japan examines the impact of the yen’s decline on its economy, says Finance Minister Suzuki By Reuters

© Reuters. FILE PHOTO: Japan’s new Finance Minister Shunichi Suzuki, wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, speaks at a press conference in Tokyo, Japan, on October 5. from 2021. REUTERS / Kim Kyung-Hoon

By Tetsushi Kajimoto

TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki said on Friday that the government will analyze the consequences of recent declines in the yen, which he described as both pros and cons for the economy.

The dollar rose to a nearly three-year high against the yen on Friday at 113,885 yen, in part on expectations that inflation risks could push the U.S. Federal Reserve to raise interest rates earlier than expected. .

While a weak yen raises import costs for some businesses and consumers, it helps exporters, Suzuki told a news conference.

“The stability of the currencies is very important,” he said. “We will continue to closely monitor currency market movements and their impact on the economy.”

Japan’s wholesale inflation hit a 13-year high in September as rising global commodity prices and a weak yen raised import costs, putting pressure on corporate margins and increasing the risk of non-profit increases. desired consumer prices.

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