Central bank deputy governor Masayoshi Amamiya renewed his pledge to continue loose monetary policy, saying Japan’s economic recovery is not yet sufficiently stable. “It is necessary for the bank to continue with monetary easing steadily” because uncertainties remain high and it will likely take some time for the bank to achieve 2% inflation in a […]
Tag: Bank of Japan (BoJ)
BoJ: Agreed on need for low interest rates, sees wage rises as ‘key’ to future
Bank of Japan members saw rate hikes as key to sustainably hitting their 2% inflation target, according to minutes of their June meeting, underscoring the bank’s determination to keep interest rates extremely low despite rising indications price pressure. Some of the nine-member d.s. saw price increases widen and lead to changes in long-held perceptions that […]
Japan: Inflation above central bank target for third month
Inflation in Japan came in above the central bank’s target of 2% for a third straight month in June as the economy comes under pressure from high global commodity prices that have pushed up the cost of the country’s imports. The rise in consumer prices comes to test the Bank of Japan’s view that recent […]
BoJ: Expects inflation to rise to 2.3%
The Bank of Japan said inflation was likely to rise above its 2 percent target this fiscal year, but kept interest rates unchanged to support the country’s economic recovery from the pandemic. Japan’s central bank kept short-term interest rates at -0.1% and the target for the 10-year bond yield at around zero. The d.s. of […]
Japan: It will continue its loose monetary policy despite price increases
Japan is likely to continue its extremely loose monetary policy despite recent price hikes, according to central banker Kuronda and Prime Minister Kishinda. “The BoJ will support the economy, which is still on track to recover from the pandemic, patiently pursuing dynamic monetary easing,” Kuronda told a parliamentary committee. Kishida, who attended the same meeting, […]
BoJ: Downgrades estimates for eight of Japan’s nine local economies
The Bank of Japan downgraded its estimates for eight of the country’s nine local economies due to a renewed rise in coronavirus cases and supply chain constraints. Economic recovery in the eight regions, including Tokyo and Saka, showed some signs of slowing, according to the quarterly regional economic report. The report also showed that companies […]
Japan: Climate deteriorates in manufacturing
The climate between Japan’s major manufacturing companies deteriorated in the quarter to March, for the first time in two years, reflecting concerns about the war in Ukraine and higher energy and raw material prices. The key climate index stood at +14 points from 17 points in the previous survey in December, according to the Bank […]
Japanese Yen sinks to seven-year low amid BoJ-Fed deviation
The Japanese yen plunged to a seven-year low on Monday against the US dollar as the Bank of Japan continues to “loosen” its monetary policy, while the US Federal Reserve has entered monetary tightening cycle. The yen was down as much as 2.4% earlier, the biggest daily drop since March 2020, to 125.09 yen against […]
BoJ: Maintains economic stimulus program, warns of increased risks from war
The Bank of Japan maintained its huge economic stimulus program and warned of increased risks in a fragile economic recovery due to the crisis in Ukraine, reinforcing expectations that it will not follow the global shift towards a tighter monetary policy. The BoJ’s stance is in stark contrast to that of the US Federal Reserve […]
For this $ 5 trillion inflation ‘time bomb’. no one speaks
By William Pesek It took 9 years for the Bank of Japan (BoJ) to increase its balance sheet to 5 trillion. dollars, to inflate Asia’s second largest economy. Officials in Tokyo are realizing – somewhat painfully – that they should “watch what they wish for” as bond yields skyrocket. The rise in consumer prices in […]