First time in over 20 years: Japan takes action to curb yen's slide
Xinhua
23 Sep 2022, 11:49 GMT+10
Japan could intervene in the foreign exchange market "anytime" to prevent the yen from falling further, said an official.
TOKYO, Sept. 23 (Xinhua) -- The Japanese government on Thursday took steps to intervene in the foreign exchange market to stem the yen's decline for the first time since 1998, according to a senior Finance Ministry official.
Masato Kanda, vice finance minister for international affairs, told the press that the government "took a decisive step" by confirming such intervention.
Earlier in the day, Kanda said Japan could intervene in the foreign exchange market "anytime" to prevent the yen from falling further, and the yen rose sharply against the dollar on Thursday upon the intervention.
Despite the Federal Reserve's decision to raise its key policy rate, the Japanese central bank announced to maintain its easing monetary policy at the end of a two-day policy meeting.
After the Tokyo market's close, Haruhiko Kuroda, governor of the Bank of Japan, rejected the idea of raising interest rates in the near future at a press conference, noting that the country's economic recovery from the COVID-19 pandemic is only halfway despite soaring inflation.
Subscribe and Follow
Get a daily dose of Irish Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Irish Sun.
More Information
13
℃
US seeks lower truck emissions, transition to electric
WASHINGTON D.C.: After Congress approved new initiatives to speed the adoption of zero-emission vehicles, the U.S. Environmental Protection Agency (EPA) ...
Cyclone roars through Canada with 80 mph winds, damage called heavy
HALIFAX, Canada: Cyclone Fiona struck northeast Canada this weekend, with reports of houses being washed into the ocean, roofs torn ...
Royals reveal details of Queen Elizabeth II's final resting place
LONDON (CNN), 24 September 2022 - Buckingham Palace has released a photograph of Queen Elizabeth II's final resting place within ...
EU considers new sanctions against Russia, including cap on gas prices
BRUSSELS, Belgium: In response to a new escalation in Russia's war against Ukraine, the European Union is considering an oil ...
Invincible Defense Technology to put warring parties on path to peace
Longstanding divisive issues between Azerbaijan and Armenia resulting from or related to the Nagorno-Karabakh conflict remain unresolved, despite continuing efforts ...
US to seek death penalty against alleged New York bike path killer
WASHINGTON D.C.: The U.S. government said it will seek the death penalty for Sayfullo Saipov, the man charged with running ...
Surging costs to result in vegetable shortages, says EU farmers
PARIS, France: Throughout northern and western Europe, vegetable producers are considering not planting crops due to the financial effects of ...
EU considers new sanctions against Russia, including cap on gas prices
BRUSSELS, Belgium: In response to a new escalation in Russia's war against Ukraine, the European Union is considering an oil ...
Invincible Defense Technology to put warring parties on path to peace
Longstanding divisive issues between Azerbaijan and Armenia resulting from or related to the Nagorno-Karabakh conflict remain unresolved, despite continuing efforts ...
Ireland says 2022 will see increase of Ukrainian refugees to 60,000
DUBLIN, Ireland: Government officials have said they expect 60,000 Ukrainian refugees will be living in Ireland by the end of ...
Contrary to Vatican, Belgium bishops to allow gay marriages
BRUSSELS, Belgium: In defiance of a ruling against such practices by the Vatican's doctrinal office, Flemish Roman Catholic bishops have ...
Protesters in Moldova call for new government as inflation strikes
CHISNAU, Moldova: Thousands of people in Moldova protested against high inflation and fuel prices, as well as demanded the resignation ...
