Kishida, BOJ chief discuss rapid fall of yen

140 is now expected in the next few days.

The yen has broken through again today to a new 24 year low against the Dollar of 136.2. Congratulations japan "government". You have to laugh, I am so glad nobody holds the poison yen anymore.

The central bank will closely monitor currency movements and respond appropriately in coordination with the government, the BOJ chief said.

that's what I like to hear..... incisive! informative! proactive! good to know we're in safe and capable hands.

Kuroda said separately he told the prime minister that the yen's sharp depreciation is "undesirable" because it will bring various uncertainties in companies' business plans.

...and insists on running the bus against the wall, undeterred. Sign of insanity?

In the same period the AUD was .72 cent to 1 USD. AUD was .89 to 100 Yen. Today the AUD .69 cent to 1 USD. AUD .95 cent to 100 Yen. AUD is gain on the Yen but loss on USD. So yes the Yen is in a bad way and only a interest rate rises will see it gain against the USD.

Young Japanese people need to start standing up on mass, organise for better pay, call you management team out, demand better working conditions or threaten to change jobs

Threats aren’t enough.

Actually change jobs.

A more fluid labour market in Japan could only be positive for the worker.

Discuss but of course, not do anything. 

Gee! That sounds awfully familiar with other things with this government.

Finally - somebody who understands @szero25

No mention of yield curve control and the government buying bonds.... funny that.

How come all these articles never mention that this is a direct result of the government's fiscal policy.

Quick question if Japanese interest rates rise , and most house mortgages in japan are locked in at a rate of say %1.5 for 30 years (those on variable rates are pretty much screwed btw) who's going to wear the rate increase?

And as many other people have mentioned no real wages rise in god knows how long, backwards work systems rewarding seniority and cronyism over merit, increasing un-availability of full time work and revolving short term scam contracts that essentially creates a class of people working over fulltime and still below the poverty line.

Young Japanese people need to start standing up on mass, organise for better pay, call you management team out, demand better working conditions or threaten to change jobs and don't be afraid of the consequences, the population is ageing the workforce participation is dropping and you deserve better.

Kuroda is happy for the yen to decline slowly, but unhappy if it declines suddenly.

But what was that saying about slowly at first…. and then suddenly?

Don't discuss anything, let it drop to ¥200, it is good for exports and more importantly, good for me. Win-win situation

Kishida, BOJ chief discuss rapid fall of yen:

Japan PM should try to slow down in busily projecting himself in international political arena.

Instead, he should be more concerned with Yen's rapid depreciation & current fragile upheaving market.

If economy tumbles, Tokyo falls..

Precisely - who do you all think Japan will be defaulting to? I would hope (know) that some of you have a basic knowledge of the JGB market and the merry go round of who issues and holds them.

Let it crash then start over.

Last call for YEN sell it until you still can.

If it gets to 200 Japan will default.

Nope. Not gonna be any default.

Get back to me when the yen hits 250 to the dollar as it was in the late 80s. The sky didn't fall in then.

Oh Larr - Intervention will occur at 140-ish , IF we get there. We are not seeing 200. Less of the hysterics. You will always be able to sell it. Whatever Level. YCC will cease sometime in the next year, and we'll return to a more natural level around 120.

Easy solution, put tarrifs on foreign entities investment or takeover of Japanese companies until there is parity to the US dollar. About 20% would be enough.

Let's see...

BOJ tries to aggressively boost economic activity by keeping interest rates zero even during a time when almost all developed countries are moving to a contractionary monetary policy.

Yen tumbles. And prices of imports, particularly, oil skyrockets.

Kishida borrows more money to artificially keep oil prices low, effectively injecting more money to the economy and expanding money supply, again all the while other developed economies are all raising interest rates.

And then the two of them come together and "discuss" the fall of yen like a couple of bystanders.

This government is addicted to cheap money and there is no cure for it.

what was reason for discussion if no outcome?they could talk by phone or chat by line without saying anything to anyone.

just one more proof how useless they are.completely useless and actionless,all empty talk but no action.

They get a lot of money from exporting companies....

PM Kishida and Kuroda of the BOJ, are so detached from the hardships and sufferings of the "peasants" that it's almost laughable.

The amount of wasted tax payers money these dinosaur leaders are spending is ridiculous, lets make the roads look nice meanwhile people going broke, homelessness on the rise and no social benefits for the jobless.

Oh and nice minimum wage, should be proud. Meanwhile in aus and nz is 2000 yen per hour minimum wage.

Japanese government and its leaders totally useless im not even suprised this is happening. Whats worse? The people is going to suffer and it's already happening

The central bank will closely monitor currency movements and respond appropriately in coordination with the government, the BOJ chief said.

This sounds a lot like how the J government handled the coronavirus: Just "monitor" it and let is run its course, without taking any action that would involve too much cost or effort.

Only this time, there is nothing that the common people can do to protect themselves.

Keep printing. The more JPY in circulation, the higher the value, right?

Kuroda said separately he told the prime minister that the yen's sharp depreciation is "undesirable" because it will bring various uncertainties in companies' business plans.

Yeah. Never mind the fact that it will decimate households that were struggling BEFORE the depreciation took effect, but who cares about those peasants, right Kuroda??

Scumbag

Kishida, BOJ chief discuss rapid fall of yen

Kishida told reporters after meeting at the prime minister's office that "there were talks that the sharp fall of the yen represents a matter of concern."

Kuroda, however, said he did not receive any particular instructions from Kishida.

Kishida: the sharp fall of the yen represents a matter of concern."

Kuroda: So desu ne!

Kishida: Ja, Ganbatte kudasai!

Kuroda: Hai! (bow)

Kishida (bow)

And there you have it ladies and gentlemen! Your tax yen hard at work.

I expect the yen to go to 300 ,, so we are almost 1/2 way ..

Government only looks at companies, if you don't understand why study more about Japan ..

So this is just the beginning

Devaluing the currency to help exporters for decades is now biting them in their you know where. Debt does matter and there are limits to irresponsible government spending

You can pretty much read their stance as Japanese corporations are in the process of retooling, hence massive jumps in imports of machinery and raw materials in April and May, resulting in a record trade deficit in May (and despite a jump in export also). Expect the Yen to stay at this level or even lower because they won't do anything to create uncertainties for exporters.

Kuroda said separately he told the prime minister that the yen's sharp depreciation is "undesirable"

Make up your mind, Kuroda-san!

In October 2021, he said, "The positive impact [of a weak yen] substantially outweighs the negative." In late March 2022, he stressed, "There's no change now to my view a weak yen is generally positive for Japan's economy."

Now, he feels that a weak yen is "undesirable"? This joker doesn't inspire much confidence!

BoJ is not really independent. He got his instructions. Watch the next few days.

Prime Minister Fumio Kishida and Bank of Japan Governor Haruhiko Kuroda on Monday discussed the yen's rapid depreciation against the U.S. dollar, with the two seeing the current market situation as a "matter of concern."

oh, reeeeaaally?

The rest of the world has been knowing and watching this for the last few weeks/months.

welcome to a few weeks/months ago, guys. It’s called the present reality.

Kishida told reporters after meeting at the prime minister's office that "there were talks that the sharp fall of the yen represents a matter of concern."

but let’s not doing anything rash. Let’s discuss this issue for another 6 months, then think about what to do at our next meeting.

Kuroda said separately he told the prime minister that the yen's sharp depreciation is "undesirable" because it will bring various uncertainties in companies' business plans.

I actually thought it was a very desirable thing to have the yen be utterly useless in the world. And have exchange rates plummet to 1998 numbers.

hmmm, could’ve fooled me.

I guess that why they pay you the big yen, where would we be without such insight?

Kishida and Kuroda meet regularly at the prime minister's office. They met Monday for the first time since their last talks on March 30.

The definition here of "regularly" is pretty loose.

yen's sharp depreciation is "undesirable" because it will bring various uncertainties in companies' business plans.

ummmm, what about households monthly cost plans? Hello!!!!! companies have made huge profits but where are the salary increases? They do know 60% of the countries economy is internally generated? Or maybe they don’t.

Discuss but of course, not do anything. The yen is now a very undesirable currency.

Kuroda said separately he told the prime minister that the yen's sharp depreciation is "undesirable" because it will bring various uncertainties in companies' business plans.

So? Please do something about yen!