Kanda Masato (神田眞人), president of the ADB, is known as “Reiwa’s Mr. Yen” for directing market interventions during his time at the Ministry of Finance. This article examines what is needed to change the yen’s downtrend, taking into account developments at the Bank of Japan and the US Federal Reserve.
Kanda Masato (神田眞人), president of the ADB, is introduced as a former vice-minister of finance for international affairs who oversaw international monetary policy at the Ministry of Finance. He is also known as “Reiwa’s Mr. Yen” because of his record of directing market interventions on numerous occasions.
The article points out that developments at the Bank of Japan and the US Federal Reserve currently affect the yen exchange rate. Based on Kanda Masato (神田眞人)’s experience and perspective, it discusses the possibility that market confidence and policy coordination will be key to changing the yen’s downtrend.
The article sets out specific measures and points to watch going forward, as well as the relationship between the background to past market interventions and current policy management. It concludes that attention should be paid to movements in the yen exchange rate and policy coordination.