Japan¡¯s currency interventions have been stealth operations in order to maximize the effects of its forays into the market, Finance Minister Shunichi Suzuki said on Tuesday, after the government spent a record ?6.35 trillion ($42.7 billion) supporting the yen last month.
Bank of Japan Gov. Haruhiko Kuroda, however, reiterated the central bank¡¯s resolve to keep interest rates ultralow, indicating that the yen¡¯s broad downtrend could continue.
Japanese officials remain tight-lipped on exactly when they intervened in the market in October. Full details of their actions will not be available until quarterly intervention data is published. The July-September data is expected to be released early this month.
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