BOJ Governor Kuroda

Active Day in Spite of North American Labor Day Holiday Closures

September 5, 2016

A less fearful mood surrounds the U.K. after the service sector purchasing managers index for the British economy shot up 6.5 points to a reading of 52.9, a 3-month high, in August. Britain’s composite PMI of 53.6 after 47.5 in July constitutes a 5-month high. Sterling touched a 7-week high and is 0.2% firmer than […] More

Euro Weakens and Equities Remain on Tenterhooks

January 5, 2016

The euro weakened overnight by 0.8% against the dollar and 1.2% relative to the yen.  The U.S. currency has otherwise appreciated 0.7% versus the Swiss franc, 0.5% vis-a-vis the kiwi and 0.3% against the Aussie dollar and sterling, but it shows a 0.3% relative to the yuan and no change against the loonie. Stocks in […] More

Dollar Gains as Week Draws to a Close

May 15, 2015

The dollar advanced broadly overnight, appreciating by 1.3% against the Swiss franc, 1.1% relative to the Australian dollar, 0.5% versus the euro and loonie, 0.8% vis-a-vis the kiwi, 0.4% against the yen, 0.2% versus sterling and o.1% against the yuan. The Japanese Nikkei climbed 0.8%, but share prices fell 1.8% in China, 0.7% in South […] More

Bank of Japan Review

April 26, 2013

The nine-person Policy Board released a two-sentence statement affirming by unanimous vote to “conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen.”  The decision implicitly pins the overnight money rate to a range of zero to 0.1%.  This was the second meeting of the […] More

Monday Focus on Japan and China

April 8, 2013

Weekend coverage of the Bank of Japan’s stimulus continued to emphasize that such exceeded all expectations and enjoyed the approval of almost the entire central bank Board.  In this euphoria, Japan’s Nikkei closed up 2.8% at 13,193, its best closing level since August 12, 2008 (exactly a month before the Lehman Brothers collapse).  The yen […] More

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