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Japan’s Takaichi Walks Back Yen Remarks Ahead of Feb. 8 Vote
(MENAFN) Japanese Prime Minister Sanae Takaichi pledged Sunday to construct an economy "resilient to exchange rate fluctuations," attempting to walk back comments from a day earlier that appeared to champion yen weakness.
"What I intended to convey was solely that 'we want to build a strong economy that is resilient to exchange rate fluctuations.' Contrary to some media reports, I did not 'stress the benefits of yen depreciation.' I hope this clarifies my true intention," Takaichi posted on US social media platform X.
"Regarding the impacts of yen depreciation on the economy, I mentioned both the negative and positive aspects in general terms," she added.
The clarification followed Saturday remarks in which Takaichi lauded recent yen depreciation for strengthening exporters and government foreign exchange returns, a news agency reported.
"People say a weak yen is bad, but for export industries, it is a major opportunity. The management of the Foreign Exchange Fund Special Account is also doing very well," she declared during a Kawasaki street rally near Tokyo on Saturday.
Yoshihiko Noda, co-leader of the newly established main opposition Centrist Reform Alliance, condemned the government's handling of currency decline at a Saturday rally, cautioning that continued weakness could escalate import expenses.
The nation barrels toward a snap general election February 8, with over 1,270 candidates competing for 465 lower house seats—the first electoral contest since Takaichi took office October 21.
A survey published by media on Sunday showed 36.1% of respondents intend to support Takaichi's ruling Liberal Democratic Party, while 13.9% favor the Centrist Reform Alliance.
"What I intended to convey was solely that 'we want to build a strong economy that is resilient to exchange rate fluctuations.' Contrary to some media reports, I did not 'stress the benefits of yen depreciation.' I hope this clarifies my true intention," Takaichi posted on US social media platform X.
"Regarding the impacts of yen depreciation on the economy, I mentioned both the negative and positive aspects in general terms," she added.
The clarification followed Saturday remarks in which Takaichi lauded recent yen depreciation for strengthening exporters and government foreign exchange returns, a news agency reported.
"People say a weak yen is bad, but for export industries, it is a major opportunity. The management of the Foreign Exchange Fund Special Account is also doing very well," she declared during a Kawasaki street rally near Tokyo on Saturday.
Yoshihiko Noda, co-leader of the newly established main opposition Centrist Reform Alliance, condemned the government's handling of currency decline at a Saturday rally, cautioning that continued weakness could escalate import expenses.
The nation barrels toward a snap general election February 8, with over 1,270 candidates competing for 465 lower house seats—the first electoral contest since Takaichi took office October 21.
A survey published by media on Sunday showed 36.1% of respondents intend to support Takaichi's ruling Liberal Democratic Party, while 13.9% favor the Centrist Reform Alliance.
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