Sun, Feb 17, 2013 - Page 5 News List

Japan avoids G20 yen censure

MIXED MESSAGE:Some nations said that Japan’s economic recovery is more important than currency devaluation, as the ECB boss played down the affair

Reuters, MOSCOW

And Indonesia, one of the rising Asia-Pacific economies, said it was also less concerned about the exchange rate of the yen than about Japanese recovery.

“If the Japanese increase their domestic demand, it will help Indonesia, especially from the export side,” Bank Indonesia Deputy Governor Hartadi Sarwono said.

Others have said that the US has created vast amounts of new money just as the Bank of Japan has, although US Federal Reserve Chairman Ben Bernanke said the US central bank was acting in line with the G7 statement, “using domestic policy tools to advance domestic objectives.”

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