HomeEconomyHalf of economists say Japan unlikely to intervene in weak yen -... Economy Half of economists say Japan unlikely to intervene in weak yen – Reuters poll By farahat September 21, 2022 0 172 views Share FacebookTwitterPinterestWhatsApp Sony -1.% Add to Watchlist/Remove from Watchlist Add to watchlist Add Location Job added successfully: Please name your portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1:1 1: 1: 1: 1: 11 1: 99 SMFG – 0.11% Add to Watchlist/Remove from Watchlist Add Watchlist Add Location Job added successfully: Please name your portfolio type: purchaseSell date: quantity: price Point value: Leverage: 1:1 1: 1: 1: Author: Kentaro Komiya Tokyo (Reuters) – Slightly more than half of economists polled by Reuters said Japan would not intervene in the devaluation of the yen, although one-fifth said it would fall by more than 10 Actions can be triggered per dollar. The yen depreciated nearly % The exchange rate against the US dollar this year reaches – year low .19, and prompted policymakers this month to show their readiness to act in the event of currency volatility. Markets are looking ahead to a series of upcoming meetings of major central banks including the Bank of Japan, the Federal Reserve and the Bank of England Prepare for further volatility and possible government action. Yen exchange rate at 20 on Wednesday. [ECILT/US][ECILT/GB] However, the vast majority of economists believe that any direct action is out of reach. Twelve o’clock respondents, or %, said the government would not buy the yen to stop the currency from weakening further, Sept. 8- opinion polls show. Any internationally coordinated action is also unlikely, as Sumitomo Mitsui (NYSE: SMFG) DS Asset Management. “The ‘rate check’ took everyone by surprise, but intervening signaling would be the last thing they could do,” Takumori said, referring to Last week the Bank of Japan asked foreign exchange traders about current interest rates — inquiries widely seen as a prelude to intervention. Five respondents said 19 JPY/USD will prompt intervention. Senior Economist Hiroshi Watanabe) 160 Sony (NYSE: SONY) Financial Group Said that if the yen falls below , intervention “may be line speed is very fast, but in reality, considering the ineffectiveness of currency intervention sex, which is highly unlikely.” The other three selected “25JPY/USD” when asked to trigger. Two choices 24 and a selection “Weaker than 66 Japanese Yen vs US Dollar”. Japan’s last Yen buying intervention was in 160, when the Asian financial crisis triggered a sell-off in the yen and the rapid capital outflow. growth was weaker and inflation accelerated Economists in the survey downgraded Japan’s growth outlook due to accelerating inflation, a resurgence of the coronavirus and a slowing global economy. The economy is likely to recover in July-September, below the 2.0% forecast in the August poll, showing the median Estimated to be Respondents. The October-December forecast was at 1.9%, compared with 2.2% in the previous poll. The world’s third-largest economy grew 3.5% in the second quarter of this year, helped by strong consumers and businesses expenditure. The core consumer price index (CPI), which strips out volatile fresh foods, may have risen 2.8% last year. month, beating the previous estimate of 2.5%. Economists expect core CPI to rise to 2.4% this fiscal year, before slowing to 1.2% in fiscal year 160 , polls show. Elsewhere in the polls , Bank of Japan Deputy Governor Masayo Shi Yugong is the first choice of economists to replace the current central bank governor of Haruhiko Kuroda in the spring. (Additional coverage of the Reuters Global Economic Survey: ) 8086 Share FacebookTwitterPinterestWhatsApp Previous articleBank of Japan's dovish deputy Amamiya top candidate for next governor: Reuters pollNext articleOne Piece Film Red Tops Weathering With You becomes Japan's 7th biggest animated film farahat RELATED ARTICLES Economy US, partners target North Korea with sanctions following satellite launch November 30, 2023 Economy US senators to be briefed on Ukraine, Israel aid on Tuesday -Senate aide November 30, 2023 Economy Fed’s Williams keeps alive rate hike chance if inflation doesn’t retreat November 30, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! 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