The Bank of Japan has been communicating with officials around the world over turmoil in financial markets, Deputy Gov. Hiroshi Nakaso said, as stocks tumble and the yen surges.
"Whether we have tools — I think we have tools, but this is something we have to be closely in touch with our counterparts, overseas counterparts," Nakaso said in response to questions following a speech in New York on Friday. "In fact, we are exchanging views and information in various aspects, just as we have done in the past."
The turmoil in markets this year is spurring talk of a potential coordinated response by international officials as Group of 20 finance ministers and central bankers prepare to meet on Feb. 26 and 27 in Shanghai. The European Union said in a draft planning document obtained by Bloomberg News that officials must "act urgently to secure a strong and durable global economic recovery."