Tag - finance-ministry

 
 

FINANCE MINISTRY

Japan’s currency reached ¥150.16 per U.S. dollar on Tuesday in New York trading, its weakest value since October 2022. Then, within seconds, it rebounded to ¥147.43 per dollar.
BUSINESS / Markets
Oct 4, 2023
Yen rebounds from ¥150 to dollar as Japan mum on intervention
The yen quickly strengthened to ¥147.30 against the dollar, with its swift recovery sparking chatter that a quiet intervention had occurred.
Finance Minister Shunichi Suzuki says higher interest rates would worsen the country's finances.
BUSINESS / Markets
Oct 3, 2023
Japan lifts coupon rate on 10-year government bonds to 0.8%
The coupon rate is double the previous 0.4% for issuance until September and marks the highest level since October 2013.
Japan bought yen in September 2022, its first foray in the market to boost its currency since 1998, after a Bank of Japan decision to maintain an ultraloose monetary policy drove the yen as low as ¥145 per dollar.
BUSINESS / Markets / EXPLAINER
Oct 2, 2023
What intervention by Japan to stem yen weakness could look like
Aside from verbal intervention, the government has several options to stem what it considers excessive yen falls.
The Bank of Japan headquarters in Tokyo
BUSINESS
Sep 29, 2023
Biggest selloff in 25 years hits Japan bonds as BOJ loosens grip
The selloff is a reminder that the nation’s debt market relies in part on support from public-sector institutions to outperform global peers.
Lawyers for the plaintiff in a lawsuit demanding that the Finance Ministry disclose documents related to a document-tampering scandal walk to the Osaka District Court on Thursday.
JAPAN / Crime & Legal
Sep 15, 2023
Osaka court rules against disclosure of Moritomo Gakuen papers
Accepting the plaintiff's petition "could cause problems such as the destruction of criminal evidence in future investigations," the judge concluded.
The yen remains vulnerable to sharp movements and government intervention even after its rally at the start of this week.
BUSINESS / Markets
Sep 12, 2023
Imminent Fed meet keeps yen intervention on agenda despite rally
U.S. inflation figures set to be released Wednesday are expected to show price growth accelerating for a second month in August versus a year earlier
Increased spending on defense and social security pushed up total budget requests for fiscal 2024 to a new record.
JAPAN
Sep 5, 2023
Japan's budget requests for fiscal '24 hit record ¥114.39 trillion
The amount surpassed the ¥111.66 trillion sought for fiscal 2022 — previously the largest on record.
The yen has depreciated about 3% since the Bank of Japan decided to tolerate higher benchmark bond yields on July 28.
BUSINESS / Markets
Aug 15, 2023
Yen weakens toward level that prompted September intervention
The currency has depreciated about 3% since the Bank of Japan decided to tolerate higher benchmark bond yields on July 28.
The Bank of Japan headquarters in Tokyo. Some economists see the central bank’s loosening of restraints on 10-year bond yields as a message to the government that it now will have to do financial management responsibly, because the BOJ won’t control yields as firmly as it used to.
BUSINESS
Aug 4, 2023
Japan’s fiscal plight draws scrutiny after BOJ policy tweak
Tokyo seeking to expand spending on defense and child care, even as the national debt has grown to almost 260% of gross domestic product.
Officials from the Japanese and Ukraine finance ministries meet in Kyiv on Wednesday.
JAPAN / Politics
Aug 3, 2023
Japan pledges more support to Ukraine during finance dialogue
In June, the World Bank approved a $1.5 billion loan for Ukraine's recovery and reconstruction, which was guaranteed by the Japanese government.
Japan Times
BUSINESS / Economy
Jun 27, 2023
Official behind last year’s ¥9.33 trillion yen intervention strategy reappointed
Masato Kanda has become just the fourth official in the past three decades to serve a third year as vice finance minister for international affairs, Finance Ministry documents show.
Japan Times
BUSINESS / Markets
Jun 27, 2023
Former vice minister Oba, renowned for shaping currency policy, dies at 94
Oba was a key figure in negotiating the 1985 Plaza Accord, intended to stop the U.S. dollar's rise against other major economies' currencies.
Japan Times
BUSINESS
Jun 26, 2023
Japan finance chief issues warning against yen's fall
Asked about authorities stepping into the foreign exchange market, Japan's top currency diplomat said that 'No options are ruled out.'
Japan Times
BUSINESS / Economy
Jun 15, 2023
Japan and South Korea to revive currency swap pact
The two sides will seek to agree on such a pact at a meeting between their finance ministers to be held in Tokyo on June 29, sources have said.
Japan Times
BUSINESS
Jun 9, 2023
Japan and South Korea may discuss currency swap deal but caution lingers
The currency swap could be on the agenda at a bilateral finance dialogue that is expected to be held in Tokyo later this month.
Japan Times
BUSINESS
May 15, 2023
Japan steps up measures to prevent illegal resale of duty-free goods
The government has started levying the consumption tax on businesses that purchased the products and illegally resold them, as well as the foreign nationals involved.
Japan Times
BUSINESS
May 10, 2023
Banking crisis concerns loom over G7 finance ministers meeting
As well as tackling the issue of crypto regulation, the ministers and central bank governors will be looking to strengthen the global financial system.
Japan Times
BUSINESS
May 7, 2023
62% of Japan firms raise base pay in FY 2023 amid inflation
From 1990 to 2021, the average wage in Japan rose around 6% in contrast to around 50% in the U.S. during the time same period.
Japan Times
BUSINESS / Economy
Apr 13, 2023
G7 finance leaders pledge stability and supply chain diversity
The finance chiefs, meeting on the sidelines of International Monetary Fund and World Bank meetings in Washington, said they had discussed recent financial sector developments.
Japan Times
BUSINESS / Economy
Apr 11, 2023
Japan fiscal policy will not rely on BOJ bond buying, says finance chief
Finance Minister Shunichi Suzuki says the ministry will leave the BOJ to decide monetary policy under new Gov. Kazuo Ueda.

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