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Japan Azumi: there will be no vacuum in FX policy

Japanese Finance Minister Jun Azumi said on Tuesday it is a mistake to assume there will be a vacuum in currency policy because he will be taking up a new position next month in the ruling Democratic Party.

Azumi, speaking to reporters, also said he stands ready to take firm measures on currencies as long as he is finance minister.

There may be some speculative currency moves in the short term, but monetary easing by the Bank of Japan is likely to have a strong impact in the mid- to long-term, he said.

Azumi will become acting secretary general of the ruling Democratic Party as Prime Minister Yoshihiko Noda makes personnel changes to prepare for an election.

Via – Reuters [1]


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