Hiroshi Nakaso accepted a position organizing an APEC advisory council-sponsored financial conference. He did not address the selection process for the new central bank governor. Uncertainty remained regarding whether his decision will impact the nomination process. Hiroshi Nakaso, a former deputy governor of the Bank of Japan (BOJ), who is widely seen as a strong … Read more
The Bank of Japan maintained its record-low interest rates on Wednesday. The central bank did not alter its advice, which permits a 50 basis point range. Analysts claim the decision did not successfully address market distortions. In defiance of market expectations that it would gradually wind down its enormous stimulus programme in the midst of … Read more
The death of Shinzo Abe makes any immediate challenge to his legacy unlikely. Prime Minister Fumio Kishida could eventually allow him to phase out Abe’s policies. Analysts say he wants to normalize fiscal and monetary policies. And gradually wind down Abenomics. Japan’s Economy Minister Fumio Kishida has endorsed the Bank of Japan’s ultra-low interest rate policy. … Read more
The dollar climbed to as high as 137.28 yen in morning trading. It then pared those gains slightly and was last up 0.6% at 136.93. The euro fell back towards a 20-year intraday low hit on Friday. The euro is struggling against more than just the dollar this week. The Rampant dollar reaches a new … Read more
This year the yen has slumped against the greenback and other major peers. The median forecast was for Japan’s currency to strengthen to 131 per dollar in six months’ time. Some market players have speculated the country could conduct a yen-buying intervention to arrest sharp falls in the currency. The Japanese yen will probably stay … Read more
Japan’s core consumer inflation hit 2.1% for two straight months in May. The rise was due almost entirely to soaring energy prices, Governor Haruhiko Kuroda said. Core consumer inflation may stay around 2% for about a year. But is likely to slow to around 1% in the next fiscal year. The Bank of Japan BOJ … Read more
Many Bank of Japan policymakers saw stronger wage growth as key to sustaining the bank’s 2% inflation goal. One board member said sharp yen falls could hurt the economy. The BOJ stuck to its ultra-low interest rate policy and vowed to defend its cap on the 10-year bond yield. Many Bank of Japan (BOJ) policymakers … Read more
