South Korea says G20 did not endorse Japan easing - Bloomberg

NEW YORK Tue Feb 19, 2013 8:36pm IST

A man walks past in front of the Bank of Japan in Tokyo February 14, 2013. REUTERS/Yuya Shino

A man walks past in front of the Bank of Japan in Tokyo February 14, 2013.

Credit: Reuters/Yuya Shino

Related Topics

NEW YORK (Reuters) - South Korea said that while the Group of 20 nations at their meeting last weekend did not single out Japan for monetary and fiscal measures that have weakened the yen, the group did not exactly endorse Japan's quantitative easing policy, which in fact stirred controversy, Bloomberg News reported on Tuesday.

"The message from Moscow should not be understood as that the leaders endorsed Japan's quantitative easing," Choi Hee Nam, a finance ministry director general, told a briefing in South Korea. "The G-20 also didn't officially oppose Japan's policies, but the topic was very controversial."

The yen has fallen more than 20 percent against the Korean won over the last six months, a big boost for Japanese exporters competing against South Korean manufacturers.

(Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)

FILED UNDER:

Reuters Showcase

FMC-SEBI Merger

FMC-SEBI Merger

Regulatory shakeup could revive commodities markets   Full Article 

Market Eye

Market Eye

Sensex, Nifty end higher after bumpy budget-day trading  Full Article 

Tax Incentives

Tax Incentives

Budget woos foreign investors  Full Article 

Excise Duty

Excise Duty

Cigarette makers fall after budget hikes excise duty  Full Article 

Welcoming the Budget

Welcoming the Budget

India Inc cheers corporate tax cut, simpler rules  Full Article 

Gold Price

Gold Price

Gold prices to rise after budget keeps import duty high  Full Article 

Fuel Prices

Fuel Prices

IOC to raise diesel, petrol prices from Sunday  Full Article 

Moody's on Budget

Moody's on Budget

Budget "credit neutral" from a ratings perspective - Moody's   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage