Merkel "not totally without concern" about Japanese monetary policy

Merkel "not totally without concern" about Japanese monetary policy
# 24 January 2013 20:16 (UTC +04:00)

Baku-APA. German Chancellor Angela Merkel on Thursday expressed concern about Japan's foreign exchange policy, after the Japanese central bank adopted an ultra-loose monetary policy, APA reports quoting Xinhua.

"I have to admit that I'm not totally without concern about the Japanese monetary policy," Merkel told a meeting at the annual World Economic Forum (WEF).

Merkel's comments echoed concerns expressed by other major economies that Japan's move to an ultra-loose policy was aimed at driving down the value of the Japanese currency that could trigger retaliation from other countries.

When asked about the European Central Bank's (ECB) unconventional monetary policy, the German leader said that she expected the money injected into the financial system last year by the ECB to be withdrawn soon.

While saying the ECB is a "positive force," she said, it should "refrain from a policy of manipulation", otherwise "we would have problems around the world."

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