February 15, 2013 / 10:34 AM / 5 years ago

Everyone has a stake in Japanese growth - Australia

MOSCOW (Reuters) - Australia indicated support on Friday for Japan’s monetary policy saying that as long as it was pro-growth it was appropriate, despite concerns by some that it was weakening the yen.

“Insofar as they are deploying fiscal and monetary policy to try to drive stronger economic growth, everybody’s got a stake in that,” Treasurer Wayne Swan told reporters ahead of a meeting of finance ministers and central bankers of the Group of 20.

The minister said it was up to Japan to characterize its initiatives, but said that it was the monetary policy of the European Central Bank and the U.S. Federal Reserve that was responsible for improved confidence in the last four to five months, demonstrating the need for active monetary policy.

Reporting by Randall Palmer; Editing by Douglas Busvine

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