Before the Bank of Japan's decision, the Japanese Finance Minister states readiness to intervene in the currency market

robot
Abstract generation in progress

Golden Finance reports that on April 28, Japan’s Finance Minister said the authorities are ready to respond to fluctuations in the foreign exchange market on a 24/7 basis. The move is seen as a warning to speculators issued a few hours before the Bank of Japan publishes its policy decision. “I have always mentioned that decisive action will be taken when necessary,” Finance Minister Shōgetsu Katayama said on Tuesday. When asked whether the government will remain on alert during Japan’s upcoming Golden Week holiday, she added, “We are ready to respond around the clock.”

The Bank of Japan is expected to announce its latest interest-rate decision in a few hours. The market generally expects it to remain unchanged, with the voting outcome becoming the focus as markets assess the likelihood of a rate hike in June. Governor Kazuo Ueda’s remarks at the news conference after the decision will also be closely scrutinized.

According to pricing in the overnight swap market, the probability of a rate hike on Tuesday is less than 3%, while the probability of a rate hike in June has risen to 65%. USD/JPY is currently trading at around 159.5, near the level at which authorities intervened in the FX market in 2024. (Dongxin News Agency)

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin