Japan's finance minister to attend G20, market focus on yen debate

TOKYO: Japanese Finance Minister Satsuki Katayama said on ​Friday that she would attend next week’s meeting ‌of the Group of 20’s finance leaders in Asheville, North Carolina.

“I would like to contribute in discussions around the global economy and ​international finance,” Katayama told a news conference after ​a regular cabinet meeting.

Bank of Japan Governor Kazuo Ueda ⁠is also expected to attend next week’s gathering of ​G20 finance leaders. While the BOJ has not disclosed whether ​Ueda will attend the G20 gathering, US Treasury Secretary Scott Bessent had said he was looking forward to meeting the BOJ chief ​in Asheville.

Markets are focusing on whether Katayama would meet ​Bessent on the sidelines of the G20 meetings, after their coordinated currency ‌intervention ⁠last month to prop up the sagging yen.

While the yen is off the 40-year low near 164 per dollar hit last month, it has slid back towards 160 after ​a jump to ​155.20 shortly ⁠after the announcement of the joint action. It stood at 155.41 per dollar on ​Friday.

“The statement with Secretary Bessent on joint intervention ​was ⁠a very strong one and still lives,” Katayama said, when asked about the stubbornly weak yen.

She also said the administration’s ⁠efforts ​to boost investment and strengthen Japan’s ​growth potential will help enhance the yen’s credibility by boosting its global competitiveness.