Japan Finds Ally in Sweden as Yen Measures Defended
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Japan is taking “natural steps” in trying to buoy its economy through a more expansionary monetary policy and a weaker yen, Swedish Finance Minister Anders Borg said.
“Once you’ve cut the interest rate and can’t do more with that, then probably the most effective way to achieve a more expansionary monetary policy, one of the most effective ways, is to intervene in your own exchange rate so that you in that way achieve a weakening of the currency and support economic growth,” Borg said yesterday in Gothenburg, Sweden.