1. Japan Intervenes to Support Yen First Time Since 1998  Bloomberg
  2. Yen jumps after authorities intervene for first time since 1998  CNA
  3. Japan intervenes in forex market to stem yen's slide  Nikkei Asia
  4. Explainer: Japan intervenes in the currency market, now what?  Reuters
  5. Fed feeds recession fears, Japan intervenes on yen By Reuters  Investing.com
  6. View Full coverage on Google News

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TOKYO: Japan intervened in the currency market on Thursday (Sep 22) to buy yen for the first time since 1998, in attempt to shore up the hard-hit currency after the Bank of Japan stuck with ultrTOKYO: Japan intervened in the currency market on Thursday (Sep 22) to buy yen for the first time since 1998, in attempt to shore up the hard-hit currency after the Bank of Japan stuck with ultr

Explainer: Japan intervenes in the currency market, now what? - CNA

Japan intervened in the foreign exchange market on Thursday to buy yen for the first time since 1998, in an attempt to shore up the battered currency after the Bank of Japan stuck with ultra-low interest rates.Japan intervened in the foreign exchange market on Thursday to buy yen for the first time since 1998, in an attempt to shore up the battered currency after the Bank of Japan stuck with ultra-low interest rates.

Japan intervenes in FX market to stem yen falls after BOJ keeps super-low rates | Reuters

Decision follows latest Fed rate hike, keeping pressure on the yen. Read more at straitstimes.com.Decision follows latest Fed rate hike, keeping pressure on the yen. Read more at straitstimes.com.

Bank of Japan keeps ultra low rates, remains global outlier despite sliding yen | The Straits Times

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TOKYO -- The Japanese government and the Bank of Japan have intervened to buy the yen and sell dollars for the first time in about 24 years after theYen had fallen against the dollar after the BOJ kept its ultraloose monetary policy

Japan intervenes in forex market to stem yen's slide - Nikkei Asia

The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked...The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked...

Yen rallies after Japan unilaterally intervenes for first time in 24 years - MarketWatch

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The move came as the dollar surged to nearly 146 yen after the US Federal Reserve again raised interest rates and the Japanese central bank opted to stick with its ultra-loose monetary policy.The move came as the dollar surged to nearly 146 yen after the US Federal Reserve again raised interest rates and the Japanese central bank opted to stick with its ultra-loose monetary policy.

Japan government intervenes to bolster cratering yen

Japan has stepped into the currency market amid the yen's abrupt fall, the Finance Ministry says, in its first intervention to prop up the currency in 24 years, as rising import costs have been dragging down the country's household and corporate sectors.Japan has stepped into the currency market amid the yen's abrupt fall, the Finance Ministry says, in its first intervention to prop up the currency in 24 years, as rising import costs have been dragging down the country's household and corporate sectors.

Japan conducts yen-buying intervention for 1st time in 24 years

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The Japanese currency yen fell to the 145 level against the dollar at one point in Tokyo on Thursday, falling to its lowest level in 24 years.The Japanese currency yen fell to the 145 level against the dollar at one point in Tokyo on Thursday, falling to its lowest level in 24 years.

Yen touches 145 level against dollar | NHK WORLD-JAPAN News

TOKYO (Kyodo) -- Japan on Thursday stepped into the foreign exchange market amid the yen's abrupt fall, the Finance Ministry said, in its first intervTOKYO (Kyodo) -- Japan on Thursday stepped into the foreign exchange market amid the yen's abrupt fall, the Finance Ministry said, in its first interv

Japan conducts yen-buying intervention for 1st time in 24 years - The Mainichi

At the end of a two-day policy meeting, the BOJ set short-term interest rates at minus 0.1%, cementing its status as a global outlier amid soaring inflation.At the end of a two-day policy meeting, the BOJ set short-term interest rates at minus 0.1%, cementing its status as a global outlier amid soaring inflation.

BOJ maintains ultralow rate policy despite yen weakness | The Japan Times

Consumer price inflation rose 3.0% YoY in August, and we look for headline inflation to stay above 3% for the rest of the year – but that's…Consumer price inflation rose 3.0% YoY in August, and we look for headline inflation to stay above 3% for the rest of the year – but that's…

Why is Japan’s inflation so low? | Article | ING Think

The Bank of Japan kept ultra-low interest rates on Thursday and vowed to hold them there to support economic growth as it swam against a global tide of monetary tightening by central banks fighting to rein in soaring inflation. The decision came after the U.S. Federal Reserve delivered its third straight rate increase of 75 basis points on Wednesday and signalled more hikes, underscoring its resolve not to let up in its battle against inflation.The Bank of Japan kept ultra-low interest rates on Thursday and vowed to hold them there to support economic growth as it swam against a global tide of monetary tightening by central banks fighting to rein in soaring inflation. The decision came after the U.S. Federal Reserve delivered its third straight rate increase of 75 basis points on Wednesday and signalled more hikes, underscoring its resolve not to let up in its battle against inflation.

QUOTES-BOJ Governor Kuroda's comments at news conference

The European Central Bank has not conducted currency market intervention, Japan's Kyodo news agency quoted a bank spokesperson as saying on Thursday, denying concerted intervention with Japan....The European Central Bank has not conducted currency market intervention, Japan's Kyodo news agency quoted a bank spokesperson as saying on Thursday, denying concerted intervention with Japan....

ECB denies concerted intervention with Japan -Kyodo quoting spokesperson

“The Bank of Japan’s outlier status is set to become even more acute this week with central banks from the Federal Reserve to the Swiss National Bank “The Bank of Japan’s outlier status is set to become even more acute this week with central banks from the Federal Reserve to the Swiss National Bank

Kuroda’s BOJ set to become world’s last negative rate holdout – Bloomberg

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Japan has intervened in the currency market for the first time since 1998 to shore up the battered...Japan has intervened in the currency market for the first time since 1998 to shore up the battered...

Japan intervenes to stem yen falls | Moree Champion | Moree, NSW

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The day after the FOMC rate hikeThe day after the FOMC rate hike

The BOJ intervenes sending the USDJPY lower. The SNB raises rates by 50 BPS. CBs go wild | Forexlive

Finance Minister Shunichi Suzuki was mum Thursday about whether Japan's currency market intervention conducted…Finance Minister Shunichi Suzuki was mum Thursday about whether Japan's currency market intervention conducted…

URGENT: Japan minister mum on whether forex intervention was unilateral | Nippon.com

Bank of Japan intervenes to sell US dollars against the yen for the first time in 24 yearsBank of Japan intervenes to sell US dollars against the yen for the first time in 24 years

Tora, Tora, Tora from the Bank of Japan | CMC Markets

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TOKYO : Japan has not intervened in the currency market yet but will "most certainly" do so when necessary, the country's top currency diplomat, Masato Kanda, said on Thursday."Markets are making very volatile moves," Kanda, vice finance minister for international affairs, told reporters. "We cannot tolerTOKYO : Japan has not intervened in the currency market yet but will "most certainly" do so when necessary, the country's top currency diplomat, Masato Kanda, said on Thursday."Markets are making very volatile moves," Kanda, vice finance minister for international affairs, told reporters. "We cannot toler

Japan 'most certainly' will intervene in FX market if needed -top FX diplomat - TODAY

The latest Tweet by Bloomberg states, 'The Bank of Japan announced an unscheduled bond-purchase operation as it seeks to cap upward pressure on yields before a policy decision later this week ...' The Bank of Japan Announced an Unscheduled Bond-purchase Operation as It Seeks to Cap ... - Latest Tweet by Bloomberg.The latest Tweet by Bloomberg states, 'The Bank of Japan announced an unscheduled bond-purchase operation as it seeks to cap upward pressure on yields before a policy decision later this week ...' The Bank of Japan Announced an Unscheduled Bond-purchase Operation as It Seeks to Cap ... - Latest Tweet by Bloomberg.

The Bank of Japan Announced an Unscheduled Bond-purchase Operation as It Seeks to Cap ... - Latest Tweet by Bloomberg | LatestLY

TOKYO (AP) — Japan’s central bank took the unusual step Thursday of intervening in the market to stem the yen’s decline against the U.S. dollar. Earlier in the day, the dollar rose to nearly 146 yen — a 24-year low — after the Bank of Japan left its key lending rate unchanged following the U.S. TOKYO (AP) — Japan’s central bank took the unusual step Thursday of intervening in the market to stem the yen’s decline against the U.S. dollar. Earlier in the day, the dollar rose to nearly 146 yen — a 24-year low — after the Bank of Japan left its key lending rate unchanged following the U.S.

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The Japanese yen has sank to a near 25-year low. And there is little feeling that the Bank of Japan is planning to tighten – at all. Where does this leave the yen now? Read on...The Japanese yen has sank to a near 25-year low. And there is little feeling that the Bank of Japan is planning to tighten – at all. Where does this leave the yen now? Read on...

JPY: Core inflation surges - can price pressure lift Japan’s yen?

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Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.

Fed feeds recession fears, Japan steps in to support yen | Kitco News

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Japan moved to prop up the yen Thursday after it fell to a 24-year low against the U.S. dollar on the heels of continued loose monetary policy.Japan moved to prop up the yen Thursday after it fell to a 24-year low against the U.S. dollar on the heels of continued loose monetary policy.

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Bank of Japan lets yen go to heck, trade deficit blows out, costs surge for manufacturers, prices surge for consumers.

Even in Japan, Inflation Begins to Rage after 23 Years of True Price Stability | Wolf Street

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BOJ seen sticking to ultra-low rates, defy global rate hike rush

BOJ seen sticking to ultra-low rates, defy global rate hike rush - Mettis Global Link - News

(Bloomberg) -- Japan intervened to prop up the yen for the first time since 1998, after its central bank sparked further declines in the currency by sticking with ultra-low interest rates as its global peers hiked. The yen rose as much as 2.5% against the dollar, pulling back sharply from the lows of the day when it had breached a key psychological level of 145, as top currency official Masato Kanda said Thursday the government was taking “decisive action.” The intervention shows that Prime Minister Fumio Kishida’s government has reached the limit of its patience after the yen tumbled around 20% against the dollar this year as hedge funds kept adding to short bets on the yen. The question now is whether the unilateral action will work, with the currency already paring gains within hours. “I think they went in solo, but they can’t do so without at least informing the US,” said Nobuyasu Atago, chief economist at Ichiyoshi Securities and a former BOJ official. “If they really want to change the yen’s slide as a trend, I think the government needs to get its act together with the BOJ.” The currency extended gains in early New York trading hours, touching an intraday high of 140.50 per dollar. Earlier, it had weakened to 145.90 as the Bank of Japan stuck to holding rates down even as the Federal Reserve hiked for the fifth time this year. “The government is concerned about excessive moves in the foreign exchange markets, and we took decisive action just now,” Kanda said late afternoon. “We’re seeing speculative moves behind the current sudden and one-sided moves in the foreign exchange market.” The intervention, ordered up by the Ministry of Finance, comes with risks if it fails to scare off speculators. Hedge funds have been adding to bearish bets on the currency, with Goldman Sachs Group Inc. warning it may decline all the way to 155. “At best, their action can help to slow the pace of yen depreciation,” said Christopher Wong, a currency strategist at Oversea-Chinese Banking Corp. “The move alone is not likely to alter the underlying trend unless the dollar, US Treasury yields turn lower or the BOJ tweaks its monetary policy.” BOJ Governor Haruhiko Kuroda insisted at a briefing in the Tokyo afternoon there were no rate hikes in the works and guidance on future policy would not be change for the time being, even for as long as two or three years in principle. Still, his influence over policy will fade next April when he steps down. “Today’s outcome strengthens my view that the chance of policy change is almost zero under Kuroda’s governorship,” said Masamichi Adachi, chief Japan economist at UBS Securities. Kuroda’s stance sets him apart from other central banks that had also previously had negative rates, with the European Central Bank and the Swiss National Bank all hiking to deal with surging inflation. What Bloomberg Economics Says.... “The MOF cannot sustainably move the market on its own. Still, Thursday’s move was needed as Japan heads into a long weekend starting Friday and after inaction from the Bank of Japan and comments from Governor Haruhiko Kuroda invited speculative bets against the battered currency.” -- Yuki Masujima, economist For the full report, click here The combination of central bank easing and government intervention suggests a division of labor to support the country’s policy stance. “For the time being, we could see some unwinding of yen shorts, particularly if the BOJ continues to intervene in the market on the behalf of the finance ministry over early next week,” said Jian Hui Tan, strategist at Informa Global Markets. “What it probably does is buy Japan some time, in the hope that broad USD strength moderates somewhat and any further yen depreciation can be slowed.” (Updates yen moves in second and fifth paragraphs.) ©2022 Bloomberg L.P.(Bloomberg) -- Japan intervened to prop up the yen for the first time since 1998, after its central bank sparked further declines in the currency by sticking with ultra-low interest rates as its global peers hiked. The yen rose as much as 2.5% against the dollar, pulling back sharply from the lows of the day when it had breached a key psychological level of 145, as top currency official Masato Kanda said Thursday the government was taking “decisive action.” The intervention shows that Prime Minister Fumio Kishida’s government has reached the limit of its patience after the yen tumbled around 20% against the dollar this year as hedge funds kept adding to short bets on the yen. The question now is whether the unilateral action will work, with the currency already paring gains within hours. “I think they went in solo, but they can’t do so without at least informing the US,” said Nobuyasu Atago, chief economist at Ichiyoshi Securities and a former BOJ official. “If they really want to change the yen’s slide as a trend, I think the government needs to get its act together with the BOJ.” The currency extended gains in early New York trading hours, touching an intraday high of 140.50 per dollar. Earlier, it had weakened to 145.90 as the Bank of Japan stuck to holding rates down even as the Federal Reserve hiked for the fifth time this year. “The government is concerned about excessive moves in the foreign exchange markets, and we took decisive action just now,” Kanda said late afternoon. “We’re seeing speculative moves behind the current sudden and one-sided moves in the foreign exchange market.” The intervention, ordered up by the Ministry of Finance, comes with risks if it fails to scare off speculators. Hedge funds have been adding to bearish bets on the currency, with Goldman Sachs Group Inc. warning it may decline all the way to 155. “At best, their action can help to slow the pace of yen depreciation,” said Christopher Wong, a currency strategist at Oversea-Chinese Banking Corp. “The move alone is not likely to alter the underlying trend unless the dollar, US Treasury yields turn lower or the BOJ tweaks its monetary policy.” BOJ Governor Haruhiko Kuroda insisted at a briefing in the Tokyo afternoon there were no rate hikes in the works and guidance on future policy would not be change for the time being, even for as long as two or three years in principle. Still, his influence over policy will fade next April when he steps down. “Today’s outcome strengthens my view that the chance of policy change is almost zero under Kuroda’s governorship,” said Masamichi Adachi, chief Japan economist at UBS Securities. Kuroda’s stance sets him apart from other central banks that had also previously had negative rates, with the European Central Bank and the Swiss National Bank all hiking to deal with surging inflation. What Bloomberg Economics Says.... “The MOF cannot sustainably move the market on its own. Still, Thursday’s move was needed as Japan heads into a long weekend starting Friday and after inaction from the Bank of Japan and comments from Governor Haruhiko Kuroda invited speculative bets against the battered currency.” -- Yuki Masujima, economist For the full report, click here The combination of central bank easing and government intervention suggests a division of labor to support the country’s policy stance. “For the time being, we could see some unwinding of yen shorts, particularly if the BOJ continues to intervene in the market on the behalf of the finance ministry over early next week,” said Jian Hui Tan, strategist at Informa Global Markets. “What it probably does is buy Japan some time, in the hope that broad USD strength moderates somewhat and any further yen depreciation can be slowed.” (Updates yen moves in second and fifth paragraphs.) ©2022 Bloomberg L.P.

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Despite prices rising sharply worldwide, Japan has refused to follow others on the path of aggressive monetary tightening. The Bank of Japan remains committed to its ultra-accommodative monetary policy, despite the yen weakening to 24-year lows. Could recent new hires within the rate-setting board move it to adopt a more hawkish approach?Despite prices rising sharply worldwide, Japan has refused to follow others on the path of aggressive monetary tightening. The Bank of Japan remains committed to its ultra-accommodative monetary policy, despite the yen weakening to 24-year lows. Could recent new hires within the rate-setting board move it to adopt a more hawkish approach?

Is the Bank of Japan’s Commitment to Ultra-Accommodative Monetary Policy Still Justified?