Japan Finance Minister (FM) Satsuki Katayama said during the European trading session on Wednesday that the government's tax policy would be able to cool down high inflation. Additional remarksJapan secured US backing by effectively handling policy. Defense spending generally not finalized until December. Market reactionNo major reaction is seen in the Japanese Yen (JPY) following remarks from Japan's FM Katayama. At press time, USD/JPY trades marginally higher to near 157.85 after recovering early losses.