MNI BRIEF: BOJ, MOF, FSA Officials To Exchange View On Markets
Senior officials at the Bank of Japan, the Ministry of Finance and the Financial Services Agency will hold their regular meeting at 1500 JST (0600 GMT) to exchange views on recent volatile financial markets and global economic conditions, the BOJ said on Tuesday.
The Nikkei Stock Average surged nearly 10% this morning, while the yen weakened to JPY146 against the dollar after U.S. service-sector data for July eased concerns of a recession.
The yen was trading at around 145.70 to USD after trading at around JPY141.
The Nikkei Stock Average recorded its worst-ever daily sell-off on Monday, losing 4,451.28 points from the previous day's closing amid panic selling triggered by fears of a possible U.S. recession and the yen's strength.
Volatile financial markets could worsen corporate and consumer sentiment, overshadowing the outlook for a sustainable economic recovery.