Japan PM calls for steps to stop rising yenNovember 30, 2009
Japan's prime minister yesterday ordered his cabinet to work out measures aimed at coping with a 14-year high in the value of the yen and the decline in domestic share prices, press reports said.
Yukio Hatoyama told key government ministers fresh mechanisms were needed to remove some of the drag on the Japanese economy as it battles to emerge from a global slowdown.
The measures are to be incorporated into a new supplementary budget for the year to March 2009, according to the Jiji and Kyodo news agencies and the public broadcaster NHK.
The decision was made at a four-hour meeting of government ministers, including Finance Minister Hirohisa Fujii.
"It is important how the markets will react tomorrow. We need to take appropriate measures," Hatoyama was quoted by NHK as telling.
emirates24/7
"It is important how the markets will react tomorrow. We need to take appropriate measures," Hatoyama was quoted by NHK as telling.
emirates24/7
