CAIRNS Australia (Reuters) - Japanese Finance Minister Taro Aso said on Saturday he told his Group of 20 counterparts that the world’s third-largest economy continues to recover moderately despite the temporary pain from a sales tax hike in April.
He also said Japan stressed the importance of setting up appropriate financial regulation and macro-prudential frameworks to guard against any sudden change to the current low volatility market environment.
Asked whether the dollar’s rise to 109 yen reflected economic fundamentals, Aso said: “We can’t comment on such questions.”
Aso spoke to reporters after attending the first day of a two-day meeting of G20 finance leaders in the Australian city of Cairns.
Reporting by Leika Kihara; Editing by John Mair