Japan finance minister says weak yen’s disadvantages more pronounced than advantages

TOKYO (Reuters) -Japanese Finance Minister Satsuki Katayama said on Wednesday she would not deny that the negative aspects of the weak yen on the economy have become more pronounced than the positive ones.

“Recently, we have been seeing one-sided and rapid movements in the foreign exchange market,” Katayama told parliament. The government is closely monitoring developments with a strong sense of vigilance against excessive volatility or disorderly fluctuations, she said.

“Exchange rate movements have both positive and negative effects on the economy, and I do not deny that the negative aspects have become more pronounced in some respects,” Katayama said.

(Reporting by Makiko Yamazaki; Editing by Tom Hogue)