Vladimír Urbánek (Kurzy.cz)
Currencies  |  October 10, 2012 15:10:42

Noda: Japan is ready to defend the further strengthening of the yen


Japanese Prime Minister Yoshihiko Noda said the government is ready to intervene against a further strengthening of the yen and calls for concerted global action to support the stabilization and recovery in global demand. According to Noda is strong only a serious problem if not monitored real economic development of the country. If necessary, Japan is ready to take the necessary measures to prevent further currency appreciation. Noda also urged the Bank of Japan, in due time duly acting to end the long period of deflation, which reduces the income of the population and reduces the overall growth of the economy of his country.
Japanese yen is only 4% of the historically highest postwar levels.

Noda also said Japan from his position as the world's largest creditor will continue to take measures necessary to preserve the stability of international financial markets.

Japan this year dropped from earlier efforts to block the growth of the yen in direct currency intervention, which last year spent 14.3 trillion yen.
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