Bank of Japan

Bank of Japan

October 31, 2018

A statement released by the Bank of Japan Board after this week’s four hour 11 minute monetary policy review left all settings of the policy known as Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control unchanged. Similar to other recent meetings, the decision was taken by a 7-2 vote, with dissents from Yutaka […] More

The Usual Month-End Flood of Economic Data but Little Overnight Movement in the dollar

October 31, 2018

The dollar is unchanged against the euro and loonie, 0.1% firmer relative to the yuan and Swiss franc, 0.2% higher vis-a-vis the yen, Aussie dollar and kiwi. Somewhat larger moves have happened against sterling (a drop of 0.5%) and the Mexican peso (a rise of 0.5%). Gold fell 0.6%. Following the rebound Tuesday of U.S. […] More

Released Current Account Data and Some Central Bank Decisions

September 19, 2018

The dollar is steady to mostly softer. North America’s stock market rally on Tuesday carried over into Asia and Europe. The ten-year British gilt yield edged up 2 basis points, and gold firmed 0.4%. Oil is steady, as are German bunds and Japanese JGBs. New Zealand recorded a larger-than-forecast NZD 1.619 billion current account deficit […] More

Fresh Decline in Turkish Lira

September 18, 2018

Turkey grabbed the currency market spotlight on a day otherwise devoid of meaningful data to be reported. The lira dropped 2% against the dollar as President Erdogan took aim against opposition party members of IsBank’s Board of Trustees. The lira’s loss erased the recovery that occurred last week after the Turkish central bank sharply raised […] More

Bank of Japan

July 31, 2018

The Bank of Japan did not change its policy interest rates of negative 0.1% on overnight Policy-Rate balances or about zero percent on the 10-year JGBs. In controlling the yield curve, officials still expect to purchase about 80 trillion yen of JGBs per year, and the quantitative settings for purchases and/or holdings of ETFs, J-Reits, […] More

Exhausting Barrage of Data and Developments on Final Day of July

July 31, 2018

The dollar recovered 0.4% against the yen while sliding 0.3% relative to the euro and Australian dollar, 0.2% versus sterling and 0.1% vis-a-vis the loonie and Swiss franc. The Bank of Japan changed the policy framework only marginally, which allowed the worried JGB market to settle down and the 10-year yield to slide back four […] More

Bank of Japan Leaves Policy Unchanged, Downgrades Inflation Outlook

June 15, 2018

Following four hours six minutes of discussion on Thursday and Friday, the Bank of Japan Board voted 8-1 to maintain its policy of quantitative and qualitative monetary easing with yield curve control. The key elements of this stance are A negative 0.1% short-term policy interest rate target. A target of around zero percent on the […] More

More Trouble

June 15, 2018

President Trump has approved a 25% tariff on $50 billion of Chinese imports. The Bank of Japan gave a gloomier assessment of inflation, downgrading its range to 0.5-1.0% from around 1.0% and observing that medium-term and long-term inflation expectations aren’t escaping a deflationary mindset. Policy settings were left unchanged, and an extremely accommodative stance seemingly […] More

Bank of Japan

April 27, 2018

After a two-day discussion lasting four hours 17 minutes, members of the Bank of Japan left their settings on their QQE policy with Yield Curve Control unchanged. A -0.10% short-term Policy Rate on current account balances of financial institutions held with it. Annual purchases of JGBs totaling about 80 trillion yen. The amount has recently […] More

Plenty of News to Focus Upon

April 27, 2018

The meeting between the presidents of South Korea and North Korea agreed to end their multi-decade war and to deescalate nuclear armament. Share prices in the Pacific Rim climbed 1.3% in New Zealand, 1.0% in Hong Kong, and 0.7% in Japan, South Korea, India and Australia. British GDP growth slowed more than forecast last quarter, […] More

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