Finance Minister Kiichi Miyazawa said Japan has no plans to take new emergency measures to support the dollar other than foreign exchange intervention. He also told reporters that many major nations yesterday intervened heavily to support the dollar against the yen. Yesterdays intervention was large in terms of the countries involved and the amounts expended he said. With the continued fall of the dollar against the yen speculation had arisen in currency markets here that Japan might take new measures to support the U.S. Currency such as curbing capital outflows. Miyazawa said that yesterdays news of a 4.3 pct rise in U.S. Gnp in the first quarter had been expected. Although the growth looks robust on the surface the figures in reality are not that good he said. He said the ruling Liberal Democratic Party (LDP) is expected to come up with a final set of recommendations of ways to stimulate the Japanese economy before Prime Minister Yasuhiro Nakasone leaves for Washington next week. Commenting on yesterdays report on economic restructuring by a high-level advisory panel to Nakasone Miyazawa said it was important to put the panels recommendations into effect.
JAPAN HAS NO PLANS FOR NEW MEASURES TO AID DLR