Japan likely intervened in currency markets, injecting ¥5.5 trillion to bolster the yen.

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Recent analysis suggests Japan’s intervention to boost the yen, injecting around ¥5.5 trillion—the first such move since 2022. Concerns arise over fiscal factors and the potential economic impact, signaling a developing crisis.

Key Points:

  • BOJ likely intervened to support yen, injecting ¥5.5 trillion.
  • Fiscal factors prompt concerns over current account balance.
  • Rise in JGB yields and yen’s decline signal a developing crisis.
  • Shift in monetary policies amid US interest rate changes poses challenges.
  • Potential consequences include soaring government debt and banking system vulnerabilities.

Source:

https://www.lewrockwell.com/2024/04/alasdair-macleod/japans-slide-into-crisis/

Implications:

  • Impact on yen’s stability and global currency markets.
  • Economic challenges posed by fiscal and monetary policy shifts.
  • Risks of escalating debt and banking system vulnerabilities in Japan.
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