The administration of Prime Minister Sanae Takaichi is scrambling to walk back a statement on monetary policy that might have dented investor confidence in Japanese bonds and contributed to a further weakening of the yen.?
On Friday, Finance Minister Satsuki Katayama said she was aware of a widely reported ¡°shock¡± related to a draft document issued late last month, and she stressed that monetary policy should be managed by the Bank of Japan based on the Bank of Japan Act, which ensures independence.
¡°I believe it is essential that this stance of the government is fully trusted to maintain market confidence,¡± she said.?
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