Intervention rate after a lapse of 24 years!Japan's shot "save" yen

Sino -Singapore Jingwei, September 22. According to the Kyodo News Agency, the Japanese government and the central bank took measures to buy yen to sell the US dollar in order to prevent the yen from depreciating the rapid depreciation of the yen on the 22nd. It is reported that the buying yen was implemented since June 17, 1998, and it was implemented after about 24 years and 3 months.

Screenshot source: Wind

After Japan announced the intervention in the foreign exchange market today, the US dollar fell rapidly against the yen, once fell to 140.67, and the daily decline exceeded 2%. As of press time, the US dollar reported to the yen at 142.492, a decline of 1.08%.

Zhongxin Jingwei noticed that at the 22nd monetary policy conference on the 22nd, the Bank of Japan decided to maintain a large -scale currency easing policy that presses interest rates to a very low level. This is a priority to support the economy that has not yet fully recovered from the new crown epidemic. Although the rapid depreciation of the yen against the US dollar has led to rising food and energy prices and increasing the burden on the family, Japan has failed to correct the devaluation of the yen by adjusting the currency easing policy. On the other hand, the support measures for small and medium -sized enterprises to respond to the epidemic will extend half a year to the end of March next year.

Prior to the meeting of the Bank of Japan, the Federal Reserve (FRB) decided to raise a significant interest rate hike of 75 basis points, and the interest rate difference between Japan and the United States increased further.

On the 22nd Tokyo foreign exchange market, the yen exchange rate fell sharply, and once reached the level since Japan's financial crisis in August 1998, the yen depreciated above 145 after the yen. According to the report of the Kyodo News, compared with the high value since the beginning of this year, the yen exchange rate declines greater than the 1989 period of the bubble economic period. The biggest decline.

It is worth mentioning that after the People's Bank of China held the last monetary policy meeting on July 21, the president Kuroda Hidaka emphasized: "It will not be considered that the depreciation of the yen will stop, and there is no plan to raise interest rates at all."

On the 22nd, Kuroda Dongyan reiterated again: "The interest rate will not be raised for the time being," emphasizing that it will maintain a large -scale currency easing policy. He also said that Japan's price may exceed the previous expectations of the Bank of Japan, but it is likely to be less than 2%in the next fiscal year. There is no need to change the forward-looking guidance within 2-3 years.

Kuroda Dongyan said that the negative interest rate policy will not cause serious problems and is trying to limit the negative impact of negative interest rates on banks. There is no need to exit negative interest rate policies to imitate the inflation of overseas central banks to fight high. It is not believed that the Fed's interest rate hikes will reduce the expectations of Japan's economic growth. (Zhongxin Jingwei APP)

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