Japan tells G20 its economy continues to recover: Finance Minister Aso

Head of the IMF Christine Lagarde greets Japan's Finance Minister Taro Aso at the G20 Finance Ministers and Central Bank Governors Meeting in Cairns on Sept 20, 2014. -- PHOTO: AFP
Head of the IMF Christine Lagarde greets Japan's Finance Minister Taro Aso at the G20 Finance Ministers and Central Bank Governors Meeting in Cairns on Sept 20, 2014. -- PHOTO: AFP

CAIRNS, Australia (REUTERS) - Japanese Finance Minister Taro Aso said on Saturday he told his Group of 20 counterparts that the world's third-largest economy continues to recover moderately despite the temporary pain from a sales tax hike in April.

He also said Japan stressed the importance of setting up appropriate financial regulation and macro-prudential frameworks to guard against any sudden change to the current low volatility market environment.

Asked whether the dollar's rise to 109 yen reflected economic fundamentals, Aso said: "We can't comment on such questions." Aso spoke to reporters after attending the first day of a two-day meeting of G20 finance leaders in the Australian city of Cairns.