Japan will closely monitor currency market movements and act resolutely against excessive fluctuations, Prime Minister Fumio Kishida said on Thursday, suggesting the government may act again after buying yen for the first time. time since 1998.
Japan intervened in the foreign exchange market to buy yen in an attempt to prop up the ailing currency after the Bank of Japan kept its interest rates ultra-low, further pressuring the currency against the dollar.
“The government will continue to closely monitor market movements with a high sense of urgency and will take necessary action decisively in response to excessive fluctuations,” Kishida told a news conference in New York.
Kishida, who is visiting the United States to attend the UN General Assembly, said Japan will ease its border controls from Oct. 11, lifting the cap on the number of entries and allowing visa-free travel, even to individuals.
The prime minister also said he would brief his ministers on September 30 on crafting a new stimulus package.
“Once compiled in October, we will quickly move to execution,” he said.