TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said the ministry is focusing more on dollar/yen stability than specific levels, adding that recent moves have been a little too wild. "We are continuously watching for the motivation behind the market moves and we are poised to take proper action if we find there are moves that are unfriendly towards normalisation in the market," Shiokawa told a briefing. "We are focusing more on stability than the levels. I think the recent dollar/yen moves are a little strong," he added. Shiokawa said he will discuss the possibility of implementing tax cuts this fiscal year with Prime Minister Koizumi Junichiro tomorrow. "I will meet Prime Minister Koizumi along with other economic ministers tomorrow evening to ask for a decision on whether to implement tax cuts this fiscal year, particularly corporate investment tax initiatives for research and the promotion of future leading industries," he said. The finance ministry will submit to other agencies and ministries by the end of the month its basic policy plan for the year to March 2004 budget compilation, he added. "In compiling the next fiscal year's budget, we are planning to follow the same path as we did for the current fiscal year, continuing to review spending structures and costs," he said. Meanwhile, Shiokawa downplayed the importance of Moody's recent downgrade of Japan's sovereign rating by two notches. "No one in the market believes the credit agencies' downgrades are correct and there has been no impact in the market after the moves. The overall evaluation of government bonds is inappropriate," he said.