Japanese Finance Minister Shunichi Suzuki on Wednesday showed a broader concern about the yen’s weakness, saying the slower pace of the yen’s depreciation, not just sharp movements, isn’t desirable for the Japanese economy.
“I am very concerned about the gradual weakening of the yen” because a weaker yen could accelerate inflation in Japan by increasing the cost of imports, Suzuki said in parliament.
The finance minister had repeatedly said previously that he couldn’t tolerate speculative and rapid falls of the yen USDJPY, -0.46%. On Wednesday, Suzuki reiterated that he would take action in the currency market if there are any excessive movements.