(Long term) rates, if they were to adjust in an abrupt manner, could be a major risk. |
as I have always said, it is desirable for dollar-yen rates to trade in a stable manner. |
As of now, the annual financial aid to India is in the range of one to 1.5 billion dollars a year. ADB will increase this to two to 2.25 billion dollars. |
Before we can realistically envisage any single currency, we have to have a single market as the European experience shows. |
But as a matured economy, like the US or European nations, the Japanese economy cannot grow by five or six per cent. |
Eight per cent growth is sustainable in the coming five years or more if infrastructure is improved and economic reforms are continued. The rate of growth can even be accelerated to 9-10 per cent. |
For a Thai company this administrative cost could be huge. |
I am quite sure that in 100 years there will be much fewer currencies and central banks in the world. |
I don't think we can decide lightly on this very serious issue. |
I think the Japanese economy has recovered and it can continue to grow by two to three percent (annually) in the next several years, although such growth is not so big compared with China or India. |
It is true to say China has enough, or more than enough foreign exchange reserves. |
It's desirable that foreign exchange rates reflect fundamentals, |
Minister Miyazawa told me that Japan's foreign exchange policy was unchanged, and that excessive weakness of the yen was undesirable for the Japanese economy as well as for the Asian and world economy, |
Now that many of the East Asian countries have enough reserves, there is no need to massively increase the reserves from here for many countries. |
Our foreign exchange policy remains unchanged. Beyond that, I will not comment. |