Finance Minister Kiichi Miyazawa and Bank of Japan Gov. Masaru Hayami will attend a meeting Saturday of the Group of Seven industrialized nations in Washington, at a time when policy coordination over the yen's rapid rise against the dollar is being closely watched.
The G7 meeting of finance ministers and central bank governors is expected to discuss whether the other G7 members — particularly the United States — will join Japan's efforts to stem the yen's rise. Miyazawa said the issue will likely be on the agenda in his talks with U.S. Treasury Secretary Lawrence Summers.
The U.S. is reportedly demanding that the BOJ further relax its monetary policy as a condition to accommodate Tokyo's request for concerted action.