>>20779442 pb Japan 5-year yields climb to the highest since April 2011 ahead of BoJ rate decision
Japan frets over relentless yen slide as BOJ keeps ultra-low rates
Japan is concerned about negative effects of the weak yen, finance minister Shunichi Suzuki said on Friday, in a fresh warning to speculators as the currency fell further after the central bank's widely expected decision to hold rates steady.
The Bank of Japan kept policy settings unchanged earlier in the session following a two-day meeting, triggering a bout of volatility in the yen as it slid to below 156 levels on the dollar, its weakest since 1990. The latest wobbles in the currency came as Suzuki, who spoke hours ahead of the BOJ decision, repeated his recent warnings against speculative moves in the yen, keeping traders on edge as to when Tokyo may intervene in the markets.
"The weak yen has both positive and negative impacts (on the economy)," Suzuki told a press conference, adding that he is "more concerned about the negative effects right now."
Suzuki said he could not comment on specific policy measures on foreign exchange, but that authorities were closely watching currency moves and stood ready to take action.
While a weak yen boosts exports, it has become a headache for Japanese policymakers as it inflates the cost of living for households by pushing up import prices. The finance minister said that measures to combat surging prices are key policy priorities for the government.
https://www.reuters.com/markets/currencies/japan-is-concerned-about-weak-yens-negative-effects-finmin-says-2024-04-26/
https://tradingeconomics.com/japan/currency