Japan unlikely to bolster yen, analysts say

BoJ governor and finance minister say rapid shifts in currency are “undesirable” and “unfavourable”

The Bank of Japan

Japan’s finance minister Shunichi Suzuki and Bank of Japan governor Haruhiko Kuroda raised concerns about the yen’s recent sharp fall today (September 9).

Their comments fuelled speculations over whether policy-makers would intervene in the foreign exchange markets.

The yen plunged to 144 against the US dollar on Wednesday, its lowest level since 1998. The BoJ continues to pursue an ultra-loose monetary policy while central banks around the world are raising interest rates to curb inflation.

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