Japan's Finance Minister to Voice Forex Stance at Upcoming G20 Summit

Finance Minister Shunichi Suzuki has announced that he will articulate Japan's position on foreign exchange at the upcoming G20 finance leaders' meeting in Rio de Janeiro. He also plans to attend meetings of the Group of Seven finance leaders. Suzuki criticized Digital Transformation Minister Taro Kono for suggesting a rise in interest rates to strengthen the yen.

Finance Minister Shunichi Suzuki declared on Friday that he will communicate Japan's foreign exchange stance at the forthcoming Group of Twenty (G20) finance leaders' meeting in Rio de Janeiro next week.

'I can't comment on what would be on the agenda at the G20 meeting, but Japan hopes to firmly convey its stance on various international issues including currencies,' he said in a regular post-cabinet meeting news conference. Suzuki also confirmed his attendance at the Group of Seven finance leaders' meetings on the sidelines of the G20 gathering.

In the same conference, Suzuki criticized Digital Transformation Minister Taro Kono, who recently urged the Bank of Japan in an interview to raise interest rates to bolster the yen. 'Incumbent ministers should be mindful of the impact of their comments on markets and should be careful about making comments,' Suzuki remarked.

(With inputs from agencies.)