Bank of Japan
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
Bank of Japan Stays Its Course
January 23, 2018
The board of the Bank of Japan deliberated over two days for a combined four hours 35 minutes and arrived at the same decision as in December or October for that matter when the previous Outlook for Economic Activity and Prices was prepared. The vote at all three meetings was the same, 8-1, with Goushi […] More
Trump Grabs Spotlight… Japan Also in the News
January 23, 2018
President Trump is on a roll. Having secured a tax cut with benefits skewed to the rich and then trapping congressional democrats in a political snake pit over immigration, he’s turned his sight on the biggest campaign promise of all: so-called fair trade. A 30% tariff on U.S. imports of foreign-made solar equipment threatens to […] More
Firmer Yen
January 9, 2018
The Japanese yen advanced 0.4% overnight against the dollar and by even more versus main European currencies. Investors reacted after the Bank of Japan bought fewer 10-year and longer JGBs in its operations today, which kindled suspicion the quantitative stimulus may be throttled back in 2018. The Japanese Nikkei-225 share price index climbed 0.6%, but […] More
Bank of Japan Maintains Status Quo
December 21, 2017
The Bank of Japan has a stimulative monetary policy that goes by the title of “quantitative and qualitative easing(QQE) with yield control.” The unchanged settings at the final scheduled policy review of 2018 A Policy-Balance interest rate of negative 0.1% A target 10-year JGB yield of “around 1.0%” JGB purchases of roughly 80 trillion yen […] More
