Tokyo, Oct. 31 (Jiji Press)–Japanese Finance Minister Satsuki Katayama on Friday warned against the yen’s “one-sided, rapid” fall in the currency market following the Bank of Japan’s decision Thursday to keep interest rates unchanged. “Very one-sided, rapid fluctuations are being seen right now,” Katayama stressed at a press conference. “We’re watching for any excessive and disorderly movements in the currency market, including speculative moves, with a high sense of tension,” she said. Regarding U.S. Treasury Secretary Scott Bessent’s recent call on the Japanese government to give the BOJ “space” to raise interest rates, Katayama said that the BOJ has primary discretion over how to adjust monetary policy. She added that Bessent discussed “nothing we cannot do” at their meeting this week. The new finance minister also said that the BOJ’s latest policy decision was “very reasonable under the current circumstances.” END [Copyright The Jiji Press, Ltd.]
Finance Min. Katayama Warns against Yen’s Rapid Fall
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