Analyst: Bank of Japan statement indicates the need for verbal intervention to prevent the Japanese yen from becoming excessively weak.

Analysts said that the policy statement of the Bank of Japan reflects the need to suppress the excessive depreciation of the yen through verbal intervention. In the statement released at the same time as the interest rate decision, the Bank of Japan expressed concerns about the rise in oil prices and promised to closely monitor the possibility that rising energy costs could accelerate underlying inflation. These analysts said, "From the perspective of preventing the yen from falling further, the Bank of Japan may intend to maintain a stance that keeps the door open for further rate hikes." The dollar was trading at around 159.75 yen, slightly below the intervention danger zone of 160 yen.