Japan’s Yamagiwa: GDP shows economy in moderate pick-up

Japan’s Economy Minister Daishiro Yamagiwa expressed his take on the economic expansion seen in the second quarter of this year.

Also read: Japan PM Kishida: Instructed to keep unchanged imported wheat prices from October

Key quotes

GDP shows economy in moderate pick-up.

Expects economy to contiue picking up ahead.

Need to pay attention to uncertainties that could hamper economic recovery such as energy, food price hikes, slowdown in global economy and coronavirus resurgence.

Want to bring economy to higher growth path while expanding momentum of wage hikes.

Will proceed with seamless measures to cope with price hikes while making flexible use of budget reserves.

Market reaction

At the press time, USD/JPY is keeping its range just above 133.00, losing 0.30% so far.

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