Japanese Economy Minister Yoshitaka Shindo said on Thursday that the Japanese economy is expected to continue its moderate recovery. Shindo further said it would closely monitor risks related to currency fluctuations that could result in higher domestic prices.

Key quotes

“The economy is expected to continue its moderate recovery.”

“Particular attention should be paid to the risks associated with currency fluctuations that would increase domestic prices.”

“Particular attention should be paid to the risks of a global economic downturn, such as the outlook for the Chinese economy, oil prices due to the unstable situation in the Middle East.”

“The government will continue its comprehensive efforts to ensure that robust wage increases spread to medium and small businesses.”

Market reaction

As of this writing, the USD/JPY rate is 0.52% lower today at 154.08.