Tokyo [Japan], August 3 (ANI): Japan and the United States carried out a rare coordinated yen-buying intervention to curb currency volatility, with Tokyo stating further action will be taken if needed and signalling plans to use the Federal Reserve's FIMA Repo Facility, as per a statement by Japan's Ministry of Finance (MOF Japan) on Monday.

The Ministry has stated that it could take further action if necessary, further indicating its plans to use the Federal Reserve's Foreign and International Monetary Authorities (FIMA) Repo Facility.

'Japan plans to utilize the Federal Reserve's 'Foreign and International Monetary Authorities Repo Facility' (FIMA Repo Facility) in the future,' it said.

The coordinated intervention was carried out in line with the Japan-U.S. Finance Ministers' Joint Statement issued in September 2025, in response to recent excessive volatility and disorderly movements in the yen.

'This joint action was taken pursuant to the U.S.-Japan Finance Ministers' Joint Statement issued in September 2025 and countered excessive volatility and disorderly movements in the Japanese yen in recent months,' the Ministry noted.

The Ministry said that on Friday, July 31, Japan's Ministry of Finance conducted yen-buying intervention in coordination with the U.S. Department of the Treasury.

It confirmed, 'The Ministry of Finance of Japan is closely monitoring the situation and maintaining tight communication with the U.S. Department of the Treasury,' stressing, 'We will not hesitate to carry out further coordinated interventions in the future if necessary.'

In a recent development, the Japanese government cut its economic growth forecast for the current fiscal year to 0.9 per cent from 1.3 per cent, citing the impact of higher crude oil prices on the import-dependent economy, Kyodo News reported.

The government said a weaker yen against the US dollar and elevated crude oil prices stemming from the conflict in the Middle East pose risks to economic growth. (ANI)