USDJPY 3rd OCTOBER 2022
The yen's recent sharp fall, which has pushed up the cost of living for households as fuel, food and drink prices rise, was partly driven by the widening gap between the US Federal Reserve's aggressive monetary tightening and the BOJ's ultra-loose monetary policy. BOJ Governor Haruhiko Kuroda echoed Suzuki's warning that a rapid yen move was undesirable, but stressed his determination to maintain ultra-low interest rates that analysts blame for accelerating the decline in the Japanese currency.
"If risks to the economy materialize, we will obviously take various monetary easing measures without hesitation as needed," he said at a meeting with business executives in Osaka, western Japan. The remarks came after the government's decision on Thursday (22/9/2022) to intervene in the currency market to stem the yen's weakness by selling the dollar and buying the yen for the first time since 1998. However, analysts doubt whether the move will stop the yen's decline from falling prolonged for a long time.
The Japanese government will allow individual foreign tourists to enter, re-enact visa waivers, and remove daily arrival limits from Tuesday 11 October. "Starting October 11, Japan will relax border requirements to match the United States' while reinstating visa-free travel and individual travel," this step is a testament to Japan's beginning to emerge from its economic downturn by loosening its tourism sector policies. It is projected that there will be an increase in the number of tourists after the policy recently made by the Japanese government.
"If risks to the economy materialize, we will obviously take various monetary easing measures without hesitation as needed," he said at a meeting with business executives in Osaka, western Japan. The remarks came after the government's decision on Thursday (22/9/2022) to intervene in the currency market to stem the yen's weakness by selling the dollar and buying the yen for the first time since 1998. However, analysts doubt whether the move will stop the yen's decline from falling prolonged for a long time.
The Japanese government will allow individual foreign tourists to enter, re-enact visa waivers, and remove daily arrival limits from Tuesday 11 October. "Starting October 11, Japan will relax border requirements to match the United States' while reinstating visa-free travel and individual travel," this step is a testament to Japan's beginning to emerge from its economic downturn by loosening its tourism sector policies. It is projected that there will be an increase in the number of tourists after the policy recently made by the Japanese government.
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