Japan's finance minister says yen intervention may be necessary when there are ‘excessive' moves

Japanese Finance Minister Shunichi Suzuki declined to comment when asked whether current levels for the yen were appropriate.

He also wouldn't comment on whether his ministry had intervened in the currency market recently, amid intense speculation.Speaking to reporters at the Asian Development Bank's annual meeting in Tbilisi, Georgia, he said that it was desirable for exchange rates to move stably. "When there is an excessive movement, it may be necessary to smooth it out," he told CNBC's Dan Murphy, according to a translation.The finance minister declined to comment when asked whether current levels for the yen were appropriate. He also wouldn't comment on whether his ministry had intervened in the currency market recently, amid intense speculation., which is likely to have been caused by an intervention, according to some market analysts.

A weak yen against the greenback can hurt the economy by raising import costs and Suzuki's words on Friday are more confirmation that policymakers are keeping a close eye on the exchange rate.on Friday evening Asia time. In the last few decades, while other global central banks have tightened their policies, Japan had maintained its ultra-loose strategy.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan's finance minister says yen intervention may be necessary when there are ‘excessive' movesJapanese Finance Minister Shunichi Suzuki on Friday backed currency interventions by his country’s policymakers if the yen moved in sharp directions.
Source: nbcchicago - 🏆 545. / 51 Read more »

Japan's finance minister gives fresh warning on excessive yen movesJapan's finance minister gives fresh warning on excessive yen moves
Source: Investingcom - 🏆 450. / 53 Read more »

Japan’s Suzuki: Government ready to respond appropriately to excessive FX movesJapanese Finance Minister Shunichi Suzuki offered some verbal intervention on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Japan repeats warning against excessive weak yenJapanese Finance Minister Shunichi Suzuki said authorities were analysing not just recent yen declines but factors that are driving the moves, and repeated that Tokyo stood ready to respond to any excessive currency swings.
Source: Reuters - 🏆 2. / 97 Read more »

Japan's Suzuki will not rule out any steps to respond to excessive FX movesJapanese Finance Minister Shunichi Suzuki offered some verbal intervention on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »