TOKYO (Reuters) - Japanese Economy Minister Yasutoshi Nishimura said on Tuesday that he believe the Bank of Japan will decide monetary policy appropriately.
He also said the government will closely monitor downside risks from overseas as well as the impact from a sales tax hike to 10% from 8%, which took effect on Tuesday.
“I believe the Bank of Japan will decide monetary policy appropriately,” taking into consideration the economic situation, Nishimura said.
The BOJ’s next policy meeting is Oct. 30-31.
Japanese big manufacturers’ business confidence worsened to a six-year low in July-September, a central bank survey showed on Tuesday.
Reporting by Kaori Kaneko; Editing by Richard Borsuk