IMF: BOJ Should Consider Unwinding Monetary Easing Under Yield Curve Control Framework Now
–IMF: BOJ Then Should Gradually Raise Interest Rates–IMF Critical of Kishida Government’s ‘Untargeted’ Economic Stimulus Package By Max Sato (MaceNews) – The Bank of Japan should consider unwinding its large-scale monetary easing now by exiting the seven-year-old yield curve control framework, the International Monetary Fund said Friday, noting that easing in the past decade has […]
Bank of Japan January Meeting Summary Shows Shift Toward More Specific Debate About Exit from Large Monetary Easing
–Members Continue to Link Timing of Exit to Clearer Signs of Sustained Wage Growth–A Few Members Warn About Falling Behind Curve in Unwinding Stimulus By Max Sato (MaceNews) – Bank of Japan board members continued to discuss the need to carefully unwind the bank’s monetary easing measures, with many linking the timing of an exit […]
White House and Other Schedules for Tuesday, Jan 30
WASHINGTON (MaceNews) – The following are Tuesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: GUIDANCE AND PRESS SCHEDULE FOR TUESDAY, JANUARY 30, 2024 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. […]
BOJ Keeps Easing Stance Under Yield Curve Control Framework as Policymakers Look for Clearer Signs of Sustained Wage Growth
–BOJ Repeats: To ‘Patiently’ Pursue Stable 2% Inflation –BOJ Maintains Negative Short-Term Rate, Zero Long-Term Rate; Keeps 1% Loose Upside Limit on 10-Year JGB Yield By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided unanimously, as expected, to maintain its seven-year-old yield curve control framework and retain its guidance […]
White House and Other Schedules for Monday, Jan 22
WASHINGTON (MaceNews) – The following are Monday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR MONDAY, JANUARY 22, 2024 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed […]
Preview: Bank of Japan Unlikely to Begin Unwinding Large-Scale Easing Until It Can Clearly Foresee Sustained Growth in Wages, Service Prices in Fiscal 2024
By Max Sato (MaceNews) – The Bank of Japan board is widely expected to retain its guidance in a unanimous vote at its Jan. 22-23 meeting that the bank will “patiently continue with monetary easing” in order to “achieve the price stability target of 2% in a sustainable and stable manner, accompanied by wage increases.” […]
Bank of Japan December Meeting Summary: Wait to See Signs of Sustained Wage Hikes in Fiscal 2024 Before Considering Rate Hike
–Members Agree BOJ Needs to Maintain Easing to Support Positive Wages-to-Prices Cycle –A Few Members Warn Against Being Complacent about Upside Risks to Inflation By Max Sato (MaceNews) – Bank of Japan board members argued that they should wait until next spring (from March to May) to confirm whether annual labor talks will lead to […]
BOJ Keeps Easing Stance Under Yield Curve Control Framework After Making It More Flexible in Oct, July
–BOJ Repeats: To ‘Patiently’ Pursue Stable 2% Inflation –BOJ Maintains Negative Short-Term Rate, Zero Long-Term Rate; Keeps 1% Loose Upside Limit on 10-Year JGB Yield By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided unanimously, as widely expected, to maintain its seven-year-old yield curve control framework and retain its […]
Analysis: Bank of Japan Cautious About Lifting Negative Short-Term Rate Target Until Confirming Path to Higher Wages in April
By Max Sato (MaceNews) – Bank of Japan policymakers are expected to maintain the current easing stance for now as they are likely to refrain from raising interest rates at least until April, when they may be able to see a clearer sign that wages will continue rising substantially in the next fiscal year. In […]
BOJ December Quarter Tankan: Major Manufacturers’ Sentiment Posts 3rd Straight Rise on Improved Supply Chains but Outlook Cautious on High Costs, Labor Shortages
–Major Non-Manufacturers’ Confidence Up for 7th Straight Quarter –Many Sectors Expect Pullback in March in Payback for Recent Improvement –Large Firms’ Combined Fiscal 2023 Capex Plans Revised Down Only Slightly; Small Firms Raise Theirs Further By Max Sato (MaceNews) – Confidence among manufacturers and non-manufacturers in Japan all picked up more than expected in December […]