Japan PM vows to underpin yen by boosting economic competitiveness

Japan PM vows to underpin yen by boosting economic competitiveness TOKYO, Oct 1 : Japanese Prime Minister Sanae Takaichi said the administration's efforts to boost the country's economic competitiveness will help ensure market confidence in the yen, according to a recorded interview aired by Nippon Television on Thursday. She also said she told US President Donald Trump that the yen's undervaluation was a problem when the two met last month. "Our economic policy is not aimed at manipulating exchange rates," Takaichi said. "My administration aims to boost Japan's growth potential by increasing the economy's supply capacity through bold investment in crisis management and growth areas," she said. "Such efforts would strengthen Japan's global competitiveness, thereby helping ensure market confidence in the yen." US Treasury Secretary Scott Bessent also endorsed Japan's economic policy and made no specific demands when Finance Minister Satsuki Katayama met him for bilateral talks on August 31, Takaichi said. "There's no change to our stance of pursuing both a strong economy and sustainable fiscal policy," Takaichi said.