The Japanese government will maintain vigilant oversight and analysis of financial market developments, collaborating closely with the Bank of Japan and other relevant authorities, Finance Minister Shunichi Suzuki announced on Tuesday.
During a meeting with regional finance bureau chiefs, Suzuki emphasized Japan’s commitment to meticulously managing the economy and financial system. “We will do our utmost to manage the economy and finance while cooperating with the Bank of Japan, and make judgements on the current situation calmly,” he stated.
The Nikkei stock index experienced a significant surge of over 8% early on Tuesday, rebounding after a dramatic 12.4% decline, which marked its worst performance since the 1987 Black Monday crash.
Highlighting positive trends, Suzuki pointed to emerging improvements in wages and investments within Japan’s economy. He noted the first rise in inflation-adjusted real wages in more than two years, recorded in June.
“It’s important to achieve resilient economic growth while adapting to the changes before us,” Suzuki added.
