Japanese Finance Minister Shunichi Suzuki told reporters today, “We cannot tolerate excessive currency moves driven by speculators. We are closely watching currency moves with a sense of urgency.”
Suzuki later told the parliament that the government is ready to take actions “decisively” and “we have intervened in the currency markets (last month)”.
“Generally speaking, there are times when we intervene by making announcements and some other times when we do without it,” Suzuki said.
BoJ Governor Haruhiko Kuroda told the parliament, “Recent sharp yen fall, coupled with raw material price rise, driving up Japan’s prices”. ”Consumer inflation likely to accelerate toward year-end before sliding below 2% next fiscal year,” he added.
