Japan’s central bank says no rate change, yen plunges to 34-year low against greenback
Japan’s central bank says no rate change, yen plunges to 34-year low against greenback
2024-04-26
Good news for those who are heading to Japan. On Friday, Japan’s central bank said it would keep its policy rate unchanged, plunging the yen to a fresh 34-year low against the U.S. dollar. The exchange rate shot up to 156 yen against the greenback, its lowest point since May 1990. In practical terms, this means that you get 55,000 yen more when you exchange NT$100,000 compared with last year, and that’s equivalent to seven trips to Tokyo Disneyland.
The numbers of yen exchanged for a greenback continue to climb upward as the currency hit a 34-year low against the U.S. dollar. On Friday, the Bank of Japan announced at its monetary policy meeting that it would maintain its current benchmark interest rate.
Kazuo Ueda
Bank of Japan governor
In today’s meeting we decided to maintain financial market policy guidelines that were determined in March, which is to promote raising short-term interest rates to 0%- 0.1%. Purchases of long-term government bonds and corporate bonds will also be conducted according to guidelines from the March meeting.
The yen has been continually depreciating as the U.S. dollar has continued to strengthen. On April 10, the U.S. announced its latest inflation and consumption data for March, which exceeded market expectations. Investors one by one sold Asian currencies including the Japanese yen, and bought greenbacks. Seeing that their exchange rate is continuing to depreciate, causing commodity prices to skyrocket, Japanese companies and people are seething with anxiety.
Member of Japanese public
The prices of many things in everyday life are constantly rising.
Member of Japanese public
Hotels have become more expensive, transportation costs are also high, and prices for foods and beverages have all increased, making dining out very difficult.
Koshiro Kudo
Asahi Kasei Corporation
The depreciation of the yen has exceeded our company’s expectations too much, and, if this continues, our overall national strength will have problems.
Since the beginning of the year, the yen has depreciated by more than 9%, making it the worst-performing currency among 10 major industrialized countries. Some analysts believe the fall could get worse and the yen could slide to 160 against the greenback, provided Japan’s central bank and Ministry of Finance stay put and do not intervene in the market.
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日本央行宣布維持現有基準利率 重創日圓探34年新低
2024-04-26
喜歡去日本旅遊的民眾有福了，在日本央行宣布維持現有的基準利率後，日圓週五貶破156日圓兌1美元關卡，創下1990年5月以來新低，10萬台幣可較去年高點多換5萬5千日圓，等於多去7次東京迪士尼。
匯率數字不斷向上跳動，日圓兌美元匯率創下34年新低。因為週五稍早，日銀才在金融政策會議上宣布，還是維持現有的基準利率。
[[日銀總裁 植田和男]]
“今天的會議上決議，維持3月決定的金融市場政策方針，也就是促成短期利率調升到0%-0.1%，另外購買長期國債，以及公司債券方面，也將延續今年3月會議的方針進行”
日圓不斷貶值，就是因為近來美元持續走強。10號美國公布3月最新的通膨、以及消費數據，都超出市場預期，投資人紛紛拋售日圓在內的亞洲貨幣、買進美元。眼看匯率不斷下跌，帶動物價直線飆升，日本企業和民眾都急到直跳腳。
[[日本民眾]]
“生活當中，很多東西價格都不斷上漲”
[[日本民眾]]
“旅館費用變貴、交通費也很高，餐飲等方面全都漲價，外食也變得很困難”
[[旭化成社長 工藤幸四郎]]
“日圓貶值程度超出(公司預期)太多，這樣下去整體國力都會出問題”
今年初以來，日圓已經貶值超過9%，是10大工業國裡表現最差的貨幣。有分析師認為，如果日本央行和財務省，堅持按兵不動、不出手干預市場，那麼今年內，日圓匯率還可能下探至160日圓兌1美元。
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