To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
REUTERS/Issei Kato/File Photo The Bank of Japan is seen in Tokyo in September 20, 2023.
Reuters
11:21 JST, May 14, 2024
TOKYO (Reuters) – The Japanese government will closely work with the Bank of Japan on currency market matters to ensure there is no friction between their mutual policy objectives, finance minister Shunichi Suzuki said on Tuesday.
“We’ll closely monitor the currency and take all possible measures,” Suzuki said, adding it is important for the exchange rate to move in a stable manner reflecting fundamentals.
The finance minister played down the market’s focus on a specific exchange rate level, giving little away about the suspected round of interventions by Tokyo when the yen slumped past 160-per-dollar late last month.
The yen has since bounced solidly and was last fetching around 156.40.
In a regular post-cabinet meeting press conference, Suzuki said the government is also watching interest rate movements closely. His comments were made in response to a query on the BOJ’s unexpected reduction in the amount of Japanese government bonds it offered to buy in a regular purchase operation on Monday.
From a general standpoint, it is also important to take action to “smooth out” excessive fluctuations in the foreign exchange market, the finance minister said.
