BOJ Keeps Easing Stance, Sees Clearer Downside Risks to Growth, Upside Risks to Inflation
Japan Appears to Have Sold Dollars in Stealth Intervention to Slow Yen’s Slide
–Currency Intervention Suspected as Dollar Slumps from Above Y151 to Under Y146 in New York Friday –Vice Finance Minister Kanda Declines Comment to Reporters in Tokyo–Yen Remains Weak Amid Wide US-Japan Rate Gap; BOJ Seen Keeping Easy Stance By Max Sato (MaceNews) – The Japanese government and the Bank of Japan appear to have stepped […]
Japan August Household Spending Up Y/Y But Slumps M/M on 7th Wave of Pandemic
–Spending on Traveling, Dining Remain Above 2021 When Covid State of Emergency Was in Place –Spending Down M/M Amid Record Covid Cases Hit Many Regions from Late July –Real Household Income Falls For 5th Straight Month on Rising Cost of Living By Max Sato (MaceNews) – Japan’s real household spending posted the third straight year-on-year […]
Japan September Tokyo Core CPI Rises Further on Food, Durable Goods Amid Elevated Producer Costs 
BOJ September Meeting Summary: Watch for Inflation, Pandemic, Global Recession
By Max Sato (MaceNews) – Bank of Japan board members debated upside risks to inflation without substantial wage growth, which could be made worse by the lingering drag from the pandemic, according to the summary of opinions expressed at the bank’s Sept. 21-22 meeting released Monday. The summary, a preview of the minutes to be […]
BOJ Q3 Tankan Business Sentiment: Manufacturers Weaker, Services Up
–Manufacturers Cautious Amid Dimmer Global Growth Outlook –Services Upbeat as Govt Refrains from Imposing Strict Covid Rules –Business Confidence Seen Mostly Lower in December Amid Uncertainty –Firms, Large and Small, Further Revise Up Their Combined FY22 Capex Plans By Max Sato (MaceNews) – Confidence among major manufacturers in Japan unexpectedly slipped for the third straight […]
Japan MOF Data Shows Large Y2.84 Trln Yen-Buying Intervention on Sept. 22, First in 24 Years
By Max Sato (MaceNews) – Japan’s yen-buying operation conducted on Sept. 22 to keep lopsided market forces from weakening the yen further against the dollar, totaled a large Y2.838 trillion ($20.3 billion), according to monthly data released Friday by the Ministry of Finance for the period from August 30 through September 28. The intervention, the […]
Preview: BOJ Tankan Manufacturers’ Sentiment Seen Up in September, Services Down
–End to Covid Lockdown in Shanghai Supports Factory Operations –Downside Risks Arise from Global Slowdown amid Tightening by US, Others –Spike in Japan Covid Cases, High Import Costs Hit Services Sector –Business Confidence in December Projected to Be Mixed –Smaller Firms Expected to Revise Up Their Combined FY22 Capex Plans Further By Max […]
Japan Intervenes in Forex Market to Stop One-Sided, Rapid Yen Fall
–Finance Minister Suzuki Says Govt Steps in To Stem Speculative Move –MOF Suzuki: To Take Necessary Steps on Excessive Fluctuations –BOJ Kuroda: No Need to Change Basic Yield Curve Control Easing Guideline for 2 to 3 Years –BOJ Kuroda Before Intervention: YCC Designed to Correct Tight Yen Funds in Event of Yen-Buying FX Operations –BOJ […]
BOJ Keeps Easing Stance Under Yield Curve Control in Unprecedented Unanimous Vote as Two Members Switch
–Japan’s Central Bank to Phase Out Special Covid Funding Program as Reopening Progresses–BOJ Sees Economy Picking Up but Warns of Downward Pressure from Commodity Market Rise By Max Sato (MaceNews) – The Bank of Japan said Thursday it is maintaining its zero to slightly negative interest rate targets along the yield curve and large asset […]