Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Tuesday.
Suzuki said that he will not rule out any steps to respond to disorderly moves and he will monitor foreign exchange moves with a high sense of urgency. Key quotes Closely watching FX moves with a high sense of urgency.” “Won't rule out any steps to respond to disorderly moves.” “Important for currencies to move in a stable manner reflecting fundamentals, rapid FX moves are undesirable.” “Declines to comment on FX intervention.
The bank’s policy is based on Quantitative and Qualitative Easing , or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds.
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