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5 years ago
Finmin Aso:to tell G20 Japan's policy aimed at beating deflation
February 12, 2013 / 12:05 AM / 5 years ago

Finmin Aso:to tell G20 Japan's policy aimed at beating deflation

TOKYO, Feb 12 (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday that Japan would tell the Group of 20 nations that its monetary and economic policies are aimed at beating deflation.

Japan has faced some criticism from German and other European officials that it is intentionally trying to weaken its currency with monetary easing.

Officials from the Group of 20 economic powers say that although top economic policymakers are likely to discuss how Japan's new monetary stance is weakening the yen when they meet next month, they will stop short of calling it a competitive devaluation.

"As I have said before we are firmly conducting monetary and economic policies in order to escape from a prolonged deflationary stagnation. That's all I have to say," Aso told a news conference after a cabinet meeting.

U.S. Treasury Undersecretary Lael Brainard said on Monday the United States supports Japanese efforts to end deflation and re-invigorate growth.

G20 finance ministers and central bankers meet in Moscow on Friday and Saturday.

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