Japan's record 96B dollar currency support
Japanese Ministry of Finance data shows that the government spent $96.5 billion in just one month to support the yen, in an effort to lift it from its lowest level in 40 years. Japan has intervened in the currency markets in an unprecedented manner alongside the United States, with the central bank maintaining interest rates at 1%, despite pressure to raise them to improve the Japanese currency's value. This comes amidst a confluence of factors such as rising oil and gas prices, energy supply tensions, and a dispute between Japan and the United States over monetary policy—while the U.S. aims to raise interest rates to strengthen the yen, Japan is concerned about the negative impact such measures could have on economic growth.
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