Ekonomické zprávy
12.10.2021

Japan premier warns of negative impact on companies from weak yen

Reuters reports that Japan's Prime Minister Fumio Kishida said the government will scrutinise the impact on the economy from any further declines in the yen, which risk hurting corporate profits.

"If the yen weakens further, it will boost exports. On the other hand, it will lead to a rise in costs for companies through higher import costs," Kishida told parliament.

"We will closely watch the impact of currency moves on companies," he said.

The government will help small and midsize firms cope with the rise in costs through financial support and steps to boost their productivity, he added.

Japanese policymakers have historically welcomed a weaker yen as it makes the export-reliant economy's goods more competitive abroad.

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