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 Taiwan 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 Taiwan Sun.
More Information
26
℃
In $10 billion deal, China Eastern Airlines to acquire 100 more planes
BEIJING, China: In a deal worth US$10 billion at list prices this week, state-owned carrier China Eastern Airlines announced that ...
China says Evergrande chairman being investigated for 'illegal crimes'
BEIJING, China: This week, China Evergrande Group said its founder and chairman, Hui Ka Yan, is being investigated over suspected ...
Trial starts in California of Tesla Model 3 Autopilot fatality
RIVERSIDE COUNTY, California: In his opening statement this week in the first U.S. trial over allegations that a car autopilot ...
FTC takes Amazon to court for monopolizing online marketspace
SEATTLE, Washington: As part of Washington's efforts to stop Big Tech from monopolizing the most lucrative parts of the internet, ...
Saudia Arabia welcomes EV maker Lucid's first international factory
JEDDAH, Saudi Arabia: As part of Riyadh's efforts to further Saudi Arabia's electrification drive, electric vehicle (EV) maker Lucid announced ...
U.S. stock markets finish Friday mixed over Congress mayhem
NEW YORK, New York - Stock prices were punctured Friday bringing to an end the 'flash in the pan' rally ...
Survey retains New York as world's top financial center, London second
LONDON, UK: This week, the Global Financial Centers index showed that New York remains the world's leading financial center, with ...
Taiwan develops first domestically-made submarine
KAOHSIUNG, Taiwan: In a significant milestone for its defense capabilities, Taiwan has unveiled its first domestically developed submarine. Although it ...
To avoid 'lecture', Solomon Islands PM says he did not meet with Biden
HONIARA, Solomon Islands: Prime Minister Manasseh Sogavare revealed that he opted out of a Pacific Islands leaders' summit at the ...
First US state tax on firearms, ammunition adopted by California
SACRAMENTO, California: Intending to raise some US$160 million per year to help prevent gun violence, California Governor Gavin Newsom signed ...
Philippines removes Chinese barrier at shoal in South China Sea
MANILA, The Philippines: The Philippines remains steadfast in its resolve not to yield to Chinese efforts to obstruct its fishermen ...
Biden's $15 minimum wage for federal contractors blocked by US judge
VICTORIA, Texas: This week, U.S. District Judge Drew Tipton in Victoria, Texas, ruled that President Joe Biden did not have ...
