Seiji Kihara, Deputy Chief Cabinet Secretary of prime minister Fumio Kishida’s government, said on Sunday that the Japanese government must take measures as needed to deal with the excessive decline of the yen.
The yen fell to a 24 year low against the US dollar, and the latest statement of senior officials highlighted the authorities’ deep concern about the depreciation of the yen. Seiji Kihara said, “as for the excessive unilateral currency trend, we will pay close attention to the development of the situation and must take measures as needed.
I will not comment on monetary and interest rate policies because they are under the jurisdiction of the Bank of Japan. ” Kihara also recommended relaxing border measures, because a weak yen is the most effective way to attract inbound tourism.