From Japan’s Noda

Noda, who was finance minister in the previous Cabinet, said he is ready to intervene in foreign exchange markets if necessary and promised that tax increases to fund the rebuilding of the disaster-stricken areas will not take place before cutting more wasteful spending of taxpayers’ money.

But he said it would be inevitable to raise some kinds of core taxes if the government still finds that there is a shortage of funds for the reconstruction work after all its efforts.