{"id":6909,"date":"2010-09-22T13:36:58","date_gmt":"2010-09-22T18:36:58","guid":{"rendered":"http:\/\/blogs-devl.bu.edu\/bunow\/?p=6909"},"modified":"2011-01-04T16:37:44","modified_gmt":"2011-01-04T21:37:44","slug":"further-action-on-the-yen","status":"publish","type":"post","link":"https:\/\/blogs-devl.bu.edu\/bunow\/2010\/09\/22\/further-action-on-the-yen\/","title":{"rendered":"Further action on the yen?"},"content":{"rendered":"<p>Japanese Prime Minister Naoto Kan has <a title=\"warned\" href=\"http:\/\/www.reuters.com\/article\/idUSTRE68L0HC20100922\" target=\"_blank\">warned<\/a> he is ready to intervene again on the yen saying such action would be unavoidable &#8220;if there is a drastic change in the currency.&#8221; International Relations professor <a title=\"William Grimes\" href=\"http:\/\/www.bu.edu\/ir\/faculty\/alphabetical\/grimes\/\" target=\"_blank\">William Grimes <\/a>is Director of the <a title=\"Center for the Study of Asia\" href=\"http:\/\/www.bu.edu\/asian\/\" target=\"_blank\">Center for the Study of Asia <\/a>and a specialist in Japanese and East Asian political economy. His latest book is <a title=\"&quot;Currency and Contest in East Asia.&quot;\" href=\"http:\/\/www.cornellpress.cornell.edu\/cup_detail.taf?ti_id=5273\" target=\"_blank\">&#8220;Currency and Contest in East Asia.&#8221; <\/a>He offers the following comment on the possible action by PM Kan.<\/p>\n<blockquote><p>&#8220;The threat to intervene again if the yen strengthens is not surprising. Previous announcements made clear that the Japanese government was prepared to fight yen appreciation, and with over $1 trillion in foreign currency reserves there is plenty of ammunition.<\/p><\/blockquote>\n<blockquote><p>&#8220;Unsterilized intervention is, practically speaking, the simplest and probably most effective way of carrying out quantitative easing.&#8221;<\/p><\/blockquote>\n<p>Contact William Grimes, 617-353-9410, <a href=\"mailto:wgrimes@bu.edu\">wgrimes@bu.edu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japanese Prime Minister Naoto Kan has warned he is ready to intervene again on the yen saying such action would be unavoidable &#8220;if there is a drastic change in the currency.&#8221; International Relations professor William Grimes is Director of the Center for the Study of Asia and a specialist in Japanese and East Asian political [&hellip;]<\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4491],"tags":[3084,3193,3012,3813],"_links":{"self":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6909"}],"collection":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/comments?post=6909"}],"version-history":[{"count":10,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6909\/revisions"}],"predecessor-version":[{"id":7523,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6909\/revisions\/7523"}],"wp:attachment":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/media?parent=6909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/categories?post=6909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/tags?post=6909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}