Suga Seeks Int'l Cooperation to Stabilize Markets

Politics

Tokyo, March 16 (Jiji Press)--Japan's Chief Cabinet Secretary Yoshihide Suga stressed on Monday the need for international cooperation in stabilizing financial markets shaken by concerns over the new coronavirus, referring to an emergency interest rate cut by the U.S. Federal Reserve on Sunday.

"It is extremely important to stabilize financial markets in each country," the top government spokesman said at a press conference, adding, "Countries need to do what they can swiftly while cooperating with one another."

In Japan, the Bank of Japan will decide appropriate action, he said. The BOJ started a policy-setting meeting at noon on Monday (3 a.m. GMT), moving up the meeting that was scheduled for two days from Wednesday.

At a press conference on Saturday, Japanese Prime Minister Shinzo Abe did not rule out the possibility of cutting the country's consumption tax as part of planned additional economic stimulus measures.

On this, Suga said only, "The government and the ruling coalition will fully study timely and effective measures."

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Jiji Press