Japanese media reported that the Bank of Japan may have implemented a significant intervention in the foreign exchange market, totaling 8 trillion yen over two days. Market participants calculated that the central bank may have intervened with 3 trillion yen on May 2, in addition to the 5 trillion yen invested on April 29.
Prime Minister Fumio Kishida declined to comment on the matter in a recent interview with the media. The scale of the intervention has sparked speculation and discussion within the financial industry.
The Bank of Japan’s actions come amidst global economic turbulence and currency fluctuations, as policymakers seek to stabilize the foreign exchange market. The implications of such intervention on the Japanese economy and international trade remain to be seen.
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