Japanese Vice Minister of Finance for International Affairs Masato Kanda (pictured right) asserted on Monday that the government would firmly respond to any excessive forex moves, noting that every country will respond appropriately following the G20 agreement on forex.
However, the Bank of Japan has been the only central bank to intervene by buying the yen to prevent further decline of the national currency, which landed at a new 32-year low against the United States dollar last Friday.
Commenting on the inflation, Bank of Japan Governor Haruhiko Kuroda said the central bank expects the annual consumer price drop to be just about 2% in 2023. It confirmed it is appropriate to continue monetary easing, unlike other financial institutions worldwide.
