Frederic Neumann, HSBC’s chief Asia economist, discusses the outlook for yen intervention, and says “the weak yen plays a functional role in Japan’s reflation — the Japanese don’t want necessarily a much stronger yen, so long as the depreciation is orderly.”
I live in Japan. I think all the inflation is probably from increased prices for imports instead of consumption increase which is the worst case situation. Most people are struggling, and housing is unattainable in cities now despite only a few years ago having a reputation for affordability
of course the BOJ didn’t come in because currency intervention is the MOF’s job not the BOJ’s…