Japan's Shiokawa, Hayami disagree over yen policy

Japan's finance minister and its central bank chief clashed over exchange rate policy on Tuesday, with Finance Minister Masajuro Shiokawa supporting a weaker yen.

Shiokawa said the government should try to bring foreign exchange rates to levels on a par with purchasing power parity (PPP), a method to compare living costs of countries by looking at prices of similar items.

"Foreign exchange rates are determined by markets, but the government should enact policies that bring foreign exchange rate