Japan's Finance Minister says the United States highly appreciates Japan's economic policy

Source: Global Market Broadcast

Japan’s Finance Minister, Katayama Kazuki, stated that Washington highly values Japan’s economic policies; she avoided responding to questions on whether the US assisted Japan in boosting the yen out of concern for Tokyo’s financial markets.

A reporter asked Katayama whether Japan’s monetary or fiscal policy might have led to the depreciation of the yen, forcing the US and Japan to coordinate an intervention to support the yen. Katayama said that US Treasury Secretary Scott Besant mentioned the term "Abenomics" in a statement, “My understanding is that the US side highly values Japan’s strong economic measures, and I believe this is fully reflected in their statement.”

Katayama declined to comment on the effectiveness of the intervention. “This is the first time in 28 years that Japan and the US have coordinated and bought yen for intervention,” she said. “Secretary Besant and I issued our statements at the same time, and I have nothing further to add.”