Japan Govt, BOJ Agree to Continue Watching Financial Markets

Economy Politics

Tokyo, Feb. 28 (Jiji Press)--The Japanese government and the Bank of Japan agreed Monday to continue closely watching financial markets over the exclusion of some Russian banks from the SWIFT global financial telecommunication network.

The agreement was made at an emergency meeting of officials from the Ministry of Finance, the Financial Services Agency and the BOJ, after Japan, the United States and European allies announced the SWIFT exclusion as a sanction against Russia over its invasion of Ukraine.

The government and the central bank plan to take appropriate action to stabilize markets if any unexpected turmoil occurs.

"The stability of markets is extremely important, and we'll keep a close watch on (the situation) with a sense of tension," Masato Kanda, vice finance minister for international affairs, told reporters after the meeting.

"We are working to make (the SWIFT exclusion) have real effects," Kanda also said.

[Copyright The Jiji Press, Ltd.]

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