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Japan to explain Bank of Japan policy not aimed at manipulating yen - Suga

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02/01/2017 | 03:37am CEST
Japan's Chief Cabinet Secretary Yoshihide Suga attends a Thomson Reuters Newsmaker event in Tokyo, Japan

Japan will explain to the United States that the Bank of Japan's monetary easing is aimed at achieving price stability, not at manipulating the yen, its chief government spokesman said on Wednesday.

Chief Cabinet Secretary Yoshihide Suga told a news conference that Japan was conducting policy in line with G7 and G20 agreements. He added that there was no change to its stance that it would respond appropriately against "one-sided" currency moves.

Suga was speaking after U.S. President Donald Trump and trade adviser Peter Navarro criticised China, Germany and Japan, saying they were engaged in devaluing their currencies to the disadvantage of the United States.

(Reporting by Leika Kihara and Hitoshi Ishida; Writing by Chris Gallagher; Editing by Randy Fabi)

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