10/27/2008

Prompted by a request from Japan, the Group of Seven industrial nations warned about the yen's "excessive gains" but did not vow any coordinated action to contain the currency. Japanese Finance Minister Shoichi Nakagawa said the country's government is ready to take action regarding the financial crisis, if necessary. Taro Aso, Japan's prime minister, also said he would introduce measures to battle the crisis, including expanding the bank-rescue scheme and boosting short-selling regulations.

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Bloomberg, Reuters

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