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Japan’s Asakawa: More substantial trade topics like WTO reforms will likely be debated at G20 Osaka summit

2019-06-19 10:55

More comments are crossing the wires from the Japanese Vice Minister of Finance for International Affairs Masatsugu Asakawa, with the key headlines found below.

G7, G20 have discussed currency policy many times.

It is widely understood among G7, G20 that BOJ's easy policy is aimed at beating deflation, not at manipulating currency.

Japan's basic stance is that issue of trade, currency policy should not be mixed up.

G7, G20 share common understanding to accept any currency falls driven by monetary policy, as long as monetary policy steps are taken for domestic purposes.

Japan, other major economies have had ultra-easy policy after Lehman crisis which as a result affected exchange-rate moves.

G20 finance leaders discussed impact of trade tension on global economy, more substantial trade topics like WTO reforms will likely be debated at G20 Osaka summit.

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