TOKYO, Feb 3 (Reuters) – Japanese Finance Minister Satsuki Katayama on Tuesday defended Prime Minister Sanae Takaichi’s comments highlighting the benefits of a weaker yen, stating that the premier had referenced “what is written in textbooks.”
“The prime minister was speaking in general terms about the impact of a weak yen on the economy,” Katayama said in a regular press conference.
Takaichi “pointed out that, while there are negative aspects, there are also positive aspects, including stronger corporate sales as domestic investment increases and products made in Japan become easier to export overseas,” Katayama said.
The dollar rose back above 155 yen after Takaichi over the weekend talked up the benefits of a weaker yen in a campaign speech, in a tone at odds with her finance ministry that has worked to stem the currency’s declines.
(Reporting by Makiko Yamazaki; Editing by Jacqueline Wong)
AloJapan.com