Reuters with a piee citing remarks from a senior International Monetary Fund official, Sanjaya Panth, deputy director for the IMF's Asia and Pacific Department.
- Japan's currency intervention last month to stop a sharp slide in the yen was likely a "signaling action" to smooth volatility, though the impact of such moves tend to be short-lived,.
the link is here for more.
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I think his more pertinent remarks are:
- When there is intervention, it does slow down the pace of depreciation
- The intervention was a one-time event so far of relatively small magnitude in a deep market
- When looked at historically, the impact of these kinds of interventions doesn't last very long
Yes to all of those.
