刚刚！日本，救市了！

Core Viewpoint - The Japanese government has signaled a potential intervention in the foreign exchange market to stabilize the yen, which has been experiencing volatility not aligned with economic fundamentals [2][4]. Group 1: Government Actions and Statements - Japanese Finance Minister Kato Saki has indicated that the government has "ample room" to take decisive action against speculative currency movements, particularly following the recent rapid depreciation of the yen [2]. - The joint statement with the U.S. Treasury emphasizes that while market forces should determine exchange rates, there is still room for intervention during periods of excessive volatility [4]. - Kato's comments suggest that Japan has received tacit approval from Washington to act without further consultation if necessary [4][5]. Group 2: Economic Context and Budget Plans - The Japanese government is expected to expand its budget significantly, with projections for the new fiscal year starting in April to exceed a record 120 trillion yen (approximately 760 billion USD), up from an initial budget of 115 trillion yen [7][8]. - The recent supplementary budget approved by the government, amounting to 18.3 trillion yen, is the largest since the easing of pandemic restrictions and includes various expenditures from price relief to security enhancements [8]. - Concerns over public finances have led to a rise in the 10-year Japanese government bond yield to 2.1%, the highest in 27 years, although Kato believes this is a temporary situation [9]. Group 3: Market Reactions - Following Kato's statements, the yen experienced a short-term increase in value against the dollar, indicating market sensitivity to government interventions [5]. - The current exchange rate for USD/JPY is approximately 157.09, reflecting a decrease of 0.4184% [6].