Japan's Yosano: Welcome rate cuts by ECB, BoE

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TOKYO, Dec 5 (Reuters) - Japanese Economics Minister Kaoru Yosano said on Friday he welcomed interest rate cuts by the Bank of England and the European Central Bank, saying the moves should have a favourable impact on the Japanese economy.

"If (the rate cuts help) the European and British economies recover, that will have a big impact on the Japanese economy," Yosano told a news conference after a cabinet meeting. Asked about the possible impact on the yen, Yosano said interest rate differentials alone could not determine currency rates. (Reporting by Tetsushi Kajimoto)