Japan Warns Currency Speculators of Market Intervention
Finance Minister Satsuki Katayama warned that Japan will intervene in foreign exchange markets to stabilize the yen following a sharp decline against the dollar.
Japanese Finance Minister Satsuki Katayama warned currency speculators on October 15 that Japan is prepared to intervene in the foreign exchange market if necessary. The warning follows a period of yen weakness, with the currency briefly touching 158.95 per dollar after U.S. consumer price data revealed the fastest inflation in five months.
Speaking ahead of a Group of 20 meeting in Bangkok, Katayama stated that the stance of Tokyo and Washington remains unchanged since their coordinated intervention in July. She asserted that Japan will act without hesitation to stabilize the currency.
Katayama also addressed Japan's fiscal sustainability. She noted that the administration of Prime Minister Sanae Takaichi aims to maintain appropriate government bond issuance levels and steadily reduce the national debt-to-GDP ratio.
