Japan central bank acts to stem yen’s decline against dollar

TOKYO (AP) — Japan’s central bank has intervened to stem the yen’s decline against the U.S. dollar. Earlier Thursday, the dollar rose to nearly 146 yen — a 24-year low — after the Bank of Japan left its key lending rate unchanged following the U.S. Federal Reserve’s decision to raise its benchmark rate by three-quarters of a percentage point. After the Bank of Japan’s move, the dollar fell to about 142 yen. Masato Kanda, the vice minister of finance for international affairs, confirmed the dollar-selling and yen-buying intervention, calling it a “bold move.” The BOJ, which last stepped in to counter a sharp rise in the yen in 2011, does not usually announce such moves itself.