Japan's Finance Minister repeated the government's line on foreign exchange in a meeting with the head of the International Monetary Fund on Tuesday, saying rates should reflect fundamentals and authorities would act if needed. A Finance Ministry official also quoted Sadakazu Tanigaki as telling IMF Managing Director Rodrigo Rato that the government was keeping up its efforts on fiscal reform.
The official, briefing reporters on a meeting between Rato and Tanigaki, said Rato urged Japan to keep trying to cut its debt and achieve fiscal sustainability. The official also said Rato had met earlier with Bank of Japan Deputy Governor Toshiro Muto and agreed the BOJ should keep up its fight against deflation.///