An example of indirect intervention by the Bank of Japan would be for the Bank of Japan to use interest rates to increase the value of the Yen vs.the dollar.

Question

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Indirect intervention refers to the Bank of Japan's use of policy tools such as interest rate adjustments to influence the value of the Yen without directly buying or selling currencies in the foreign exchange market. Increasing interest rates will attract foreign investment and increase demand for the Yen, leading to a rise in its value relative to the dollar.

An Example of Indirect Intervention by the Bank of Japan