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 about 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 intervention to local reporters. However, it was unclear exactly what form it took, and the BOJ does not usually announce such moves itself.