Japan vows steps against speculative moves as yen spikes amid election push

PM Sanae Takaichi pledged to take necessary steps against speculative or abnormal market moves after a yen spike and bond rout tied to expansionary fiscal policy and the BOJ’s slow rate hikes, while promising a two-year suspension of the 8% food sales tax; opposition parties floated funding a tax cut by tapping the BOJ’s ETF holdings or currency intervention reserves, prompting concerns about market impact and central-bank independence as the BOJ signals readiness for emergency bond-buying if yields rise.