Japan is the last country in the world to maintain negative rates and to pursue an accommodating policy of asset purchases.
On Thursday, the governor of its central bank, Haruhiko Kuroda, even specified that he saw no reason to change this policy
"in the next two to three years",
despite underlying inflation (excluding volatile elements) of 2 .8% in August, admittedly unrelated to the levels observed in the United States or Europe, but above the objective.
A “decisive” intervention
This policy caused the yen to plunge to its lowest level against the dollar for 24 years.
The strength of the rise in US interest rates is attracting investors like a siphon.
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The weak yen maintains the trade deficit in Japan
To counter this trend, the Japanese Ministry of Economy intervened in the foreign exchange markets for the first time since 1998 by selling dollars, without specifying the extent of the operation.
This sent the national currency back up to 140.3 yen to the dollar, after hitting a low of 145.89 earlier -…
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