Ishiba worried by steep yen falls

JIJI

Liberal Democratic Party Secretary General Shigeru Ishiba said Thursday he is concerned about excessive drops in the yen’s value.

“The ongoing correction to the yen’s strength is welcome, but excessive weakening of the currency is not necessarily good,” Ishiba said on a TV program.

A weaker yen can benefit exporters but harm some other companies, he pointed out.

“It is important to maintain appropriate exchange rates,” he said. Ishiba also said the LDP will focus on inserting quick-impact projects into the fiscal 2012 supplementary budget, which is expected to be worth about ¥10 trillion.