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Japan’s Suga says govt needs to monitor recent plunge in oil prices

Japan’s Suga says govt needs to monitor recent plunge in oil prices

TOKYO: Japan’s Chief Cabinet Secretary Yoshihide Suga said on Wednesday the government needs to monitor closely the recent plunge in oil prices and whether it contributes to the spread of risk aversion in financial markets.

Suga also told a regular post cabinet news conference that the government will closely watch currency movements.

A major victim of plunging oil prices the rouble plunged more than 11 percent against the dollar on Tuesday despite a steep hike in Russia’s benchmark interest rate.