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Japan can't act like Swiss on currency rise-MOF
Japan cannot curb rises in its currency like Switzerland has done by setting a cap on its currency and pledging to defend it with intervention, as that would effectively mean abandoning monetary policy independence, a senior Japanese finance ministry official said on Friday. Deputy vice finance minister Masatsugu Asakawa also said the country's priority should be to beat deflation which is keeping upward pressure on the yen. "Logically speaking, as long as deflation goes on, there will be continuous pressure for the yen to rise," Asakawa said in a seminar hosted by the International Monetary Fund. He declined ... (full story)
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