Vice Minister of Finance Ryomasa Akazawa told reporters on the 26th that he had “no particular comment to make” regarding the yen’s depreciation following the Bank of Japan’s monetary policy meeting. Document photo of dollar and yen banknotes (2024 Reuters/Dado Ruvic/Illustration)
TOKYO (Reuters) – Deputy Finance Minister Ryomasa Akazawa told reporters on the 26th that he had “no particular comment to make” regarding the acceleration of the dollar’s appreciation and yen’s depreciation after the Bank of Japan’s monetary policy meeting. Deputy Minister Akazawa attended the decision-making meeting that day.
The dollar/yen pair, which had been hovering around 155 yen, rose to the low 156 yen range following the announcement of the results of the Bank of Japan meeting, which decided to maintain policy status quo, marking a new 34-year high.
After the meeting, Finance Minister Shunichi Suzuki boarded an elevator inside the Ministry of Finance without commenting when asked by reporters whether the fluctuations were excessive. At a meeting of the House of Representatives Finance and Financial Services Committee, which he attended before the decision-making meeting ended, he stated, “Interest rate differentials play a very important part in the level of exchange rates” regarding the reason for the weak yen.
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