Japan's Prime Minister Yoshihiko Noda was holding talks with the central bank chief Monday morning, reports said as the yen rose amid European debt woes.
Noda and Bank of Japan governor Masaaki Shirakawa began talks at a Tokyo hotel, Jiji Press news agency and other media reported with no further details.
The meeting came as the yen gained further ground against other currencies. A strong yen hurts Japanese exporters as it reduces their earnings when repatriated.
The euro, which tumbled Friday amid fresh worries over Spain, bought 95.13 yen in early Asian trade, down from 95.42 yen in New York late Friday, hitting yet another 11-year low.
The dollar was at 78.42 yen against 78.48 yen.