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.
Leave a Reply