Kan Says Will Sell Yen If Needed, Urges BOJ to Fight Deflation
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Japan’s Prime Minister Naoto Kan said he is prepared to resume selling the country’s currency to prevent it from strengthening and called on the central bank to do more to bolster an economy threatened by deflation.
“We will continue to take decisive measures as needed” on the yen, Kan said today in a policy speech in parliament that also touched on faltering ties with China. “We expect the Bank of Japan to closely coordinate with the government and take further policy measures needed to beat deflation,” he said.