Katayama declined to discuss specific exchange-rate levels, said Japan is coordinating closely with U.S. authorities on foreign exchange, and stressed fiscal steps to maintain market trust as JGB yields rise.
Japan Finance Minister Katayama said Friday that the government is prepared to take appropriate measures in response to currency volatility, while declining to comment on specific exchange-rate levels. She said Tokyo is in close contact with U.S. authorities on foreign exchange issues and added that Japan will pursue fiscal policy to maintain market trust as JGB (Japanese government bond) yields rise. Katayama also said monetary policy decisions remain with the Bank of Japan, underscoring the division between government fiscal management and central bank policy setting.