2024-01-19 02:53:51
Japanese Finance Minister Shunichi Suzuki said Friday the government was closely monitoring currency developments, when asked regarding the yen’s recent rapid declines.
“It is important that exchange rates move in a stable manner and reflect fundamentals,” Suzuki told a regular news conference.
The dollar has risen nearly 5% once morest the yen this year as markets increasingly expect the Bank of Japan (BOJ) to move interest rates out of negative territory anytime soon. The Japanese currency settled at 148.12 per dollar on Friday.
“We hope that the Bank of Japan, in close cooperation with the government, will pursue appropriate monetary policy to sustainably and stably achieve its inflation target,” Suzuki said, when asked whether the government had hopes for when the central bank would end negative interest rates.
The BOJ is widely expected to maintain its ultra-loose monetary policy at its meeting next week.
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