> BOJ's Kuroda: Intervention was the appropriate move

BOJ's Kuroda: Intervention was the appropriate move

Kuroda defends the move to intervene in the FX market, as you'd expect

Monday, 26/09/2022 | 07:42 GMT-0

Intervention was taken to address FX volatility
Recent yen declines were one-sided, rapid so it was negative for the economy

At the same time, he says that the BOJ has to keep ultra easy policy to support the economy. Like geez, what exactly do you want? It's clear they are picking a fight now as their tolerance level reaches a certain threshold (USD/JPY has appreciated by 26% right before they stepped in) but unless something fundamental changes, the pressure valve will not be turned off.