EXCLUSIVE: Ex-BOJ Momma Says BOJ May Raise Rates at Year End if Outlook for Sustained Wage Hikes Emerges; Initial Rate Move More Likely Next Spring or Summer
–Momma Sees 20% Chance of BOJ Achieving Stable 2% Inflation in A Year, Up from Zero 6 to 12 Months Ago –Momma: Cost-Push Inflation Prompting Wage Hikes Amid Labor Shortages By Max Sato TOKYO (MaceNews) – The Bank of Japan is focused on riding the wave of wage hikes to achieve stable 2% inflation by […]
BOJ Under Governor Ueda Keeps Easing Stance to Pursue Stable 2% Inflation but Also Decides to Review Prolonged Easing
–No Longer Expects Short-, Long-Term Rates to Go Lower Than Now –Ueda Has Told Diet, Reporters: ‘Appropriate’ to Continue Current Policy Framework; Underlying Inflation Has Not Reached 2% By Max Sato (MaceNews) – The Bank of Japan said Friday its policy board decided unanimously to maintain its monetary easing stance, keeping its zero to slightly […]
Japan March Producer Inflation Eases Further to 7.2% from February’s 8.3% on Energy Subsidies, Slumping Lumber Prices
–December’s Revised 10.6% Y/Y Rise Remains Highest in 42 Years By Max Sato (MaceNews) – Producer inflation in Japan eased for the third straight month in March as the government’s expanded utilities subsidies continued to cap energy costs and slowing global demand has cooled off commodities markets, data released Wednesday by the Bank of Japan […]
BOJ’s New Governor Ueda Sees No Need to Change Yield Curve Control Policy Framework or Accord with Government
By Max Sato (MaceNews) – Bank of Japan Governor Kazuo Ueda said it is “appropriate” to continue seeking stable and sustainable 2% inflation under the bank’s yield curve control policy framework, indicating that there will be no major change to the current monetary easing stance at the April 27-28 meeting. He told an inaugural news […]
BOJ March Meeting Summary: Continue Easing to Support Stable 2% inflation, Sustained Wage Growth
By Max Sato –Board Members Also Note Side-Effects of Easing on Market Functioning–Summary Shows No Specific Debate on How BOJ Should Prepare for Eventual Exit (MaceNews) – Bank of Japan board members agreed that large-scale monetary easing should continue to support structural reforms toward sustained wage growth as the bank inches closer to achieving its […]
Major Central Banks to Boost Dollar Liquidity to Calm Market Jitters over Bank Failures
By Max Sato (MaceNews) – Six major central banks said on early Monday Tokyo time that they are enhancing their joint efforts to provide ample funds to the financial markets under the scheme launched in 2009 in the aftermath of a global credit crunch, as investor concerns are growing over the health of financial institutions […]
<strong>BOJ Keeps Easing Stance to Pursue Stable 2% Inflation Target After Nearly a Decade of Flooding Markets with Cash</strong>
–March Meeting Last Scheduled One for Governor Kuroda Before His 2nd 5-Year Term Ends on April 8 –Kuroda’s 2 Deputies Will Also Retire at End of Their 5-Year Terms on March 19 –Incoming Governor, Ex-BOJ Board Member Kazuo Ueda Has Told Diet Current Easing Stance ‘Appropriate’ By Max Sato (MaceNews) – The Bank of Japan […]
<strong>Analysis: Japan PM Kishida Seeking Monetary Policy Balance Between Continuity and Gradual Shift from Abenomics</strong>
–Reports Say Kishida Picks Academic Kazuo Ueda to Succeed Kuroda By Max Sato (MaceNews) – Japanese Prime Minister Fumio Kishida appears to have picked an academic candidate with some policymaking experience to replace retiring Bank of Japan Governor Haruhiko Kuroda in a surprise choice that could prompt a gradual departure from the decade-old reflationary Abenomics […]
<strong>BOJ January Meeting Summary: Economy Still Needs Easy Policy Support for Sustainable Wage Growth</strong>
–Members Agree Cost-Push Price Pressures to Wane in FY23, Need Demand-Pull Inflation for Price Stability –Members See Need to Assess Costs and Benefits of Super-Low Interest Rates in Future but Not Now By Max Sato (MaceNews) – Bank of Japan board members agreed that the economy still needs very accommodative monetary policy support for sustainable […]
<strong>BOJ Keeps Easing Stance Amid Slowing Global Growth, Expects Cost-Push Inflation to Lose Steam in FY23</strong>
–Board Sees 3% Core CPI Rise in FY22 to Slow to 1.6% in FY23, 1.8% in FY24 –Board Revises Down GDP Forecasts to 1.9% in FY22, 1.7% in FY23, 1.1% in FY24 By Max Sato (MaceNews) – The Bank of Japan said Wednesday its policy board decided unanimously to maintain its basic monetary easing stance, […]