Japan's Economic Policy

TOKYO (Reuters) – Japan's government has no plans to revise a joint statement with the central bank focused on pulling the economy out of deflation, Prime Minister Shigeru Ishiba stated on Thursday.

The need to reverse excessive rises in the yen was communicated to the public when former Prime Minister Shinzo Abe implemented his "Abenomics" stimulus policies during 2012-2013. These policies included bold monetary easing, loose fiscal policy, and structural reform, Ishiba told parliament.

"But what could have been appropriate policies at the time, if sustained, could cause side-effects," he added.

Ishiba also emphasized the need for the government to scrutinize what the appropriate exchange-rate level for Japan's economy should be, although he did not provide specific levels.