The Bank of Japan stuck to its accommodative monetary policy on Thursday as the government took a surprise move to intervene in the currency market amid rising inflation and a sharp drop in the value of the yen against against the dollar.
Right after the BOJ announcement, the yen’s weakening accelerated past the key ¥145 line, prompting the Japanese government to greenlight a yen-buying intervention for the first time in 24 year. The intervention briefly pushed the yen rate up to the ¥140 level.
In an age of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us tell the story well.
SUBSCRIBE NOW
Leave a Reply