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TOKYO, Japan (AFP) — The Bank of Japan on Monday ramped up its emergency monetary easing, lifting the cap on its buying of government bonds and increasing purchases of other assets while cutting its growth forecasts. After a meeting shortened from two days to one, the central bank said it would shift to unlimited government bond-buying and more than double its capacity to purchase corporate bonds and commercial papers — a move to support Japan […]
TOKYO, Japan (AFP) — Confidence among Japan’s biggest manufacturers was unchanged this quarter after slipping for three consecutive surveys, central bank data showed on Friday. The Bank of Japan’s Tankan report — a quarterly survey of about 10,000 companies — showed a reading of 19 among major manufacturers in its December survey. The reading was unchanged from the previous quarter when corporate confidence was down for the third time in a row. Economists say the […]
by Hiroshi Hiyama and Richard Carter Agence France Presse TOKYO, Japan (AFP) — Japan’s government nominated Haruhiko Kuroda for a second term as central bank governor Friday, handing the veteran finance chief more time to battle deflation and kick-start the world’s number-three economy. Kuroda’s nomination was among those submitted to the parliament in a document seen by reporters, and had been widely expected. Handpicked by Shinzo Abe to steer the former economic powerhouse out of […]
TOKYO, Japan (AFP) — The Bank of Japan kept its ultra-loose monetary policy in place Thursday as inflation remains stubbornly low in the world’s third-biggest economy, bucking a trend of gradually tighter policy in major economies. The bank said it would purchase 10-year government bonds so that long-term interest rates would remain “at around zero percent.” The BoJ will also keep charging a negative interest rate on some accounts held by financial institutions at the […]
by Karyn Nishimura-Poupee Agence France-Presse TOKYO, Japan (AFP) – The Tokyo stock market might be riding two-decade highs, but a growing number of Japanese are choosing to stash their cash in the humble home safe, wary of negative interest rates in the bank and out of the view of eagle-eyed tax officials. It is no secret that Japan has some of the world’s biggest savers, learning from an early age to put aside some of their hard-earned […]
TOKYO, Japan (AFP) — Japan’s central bank gave an upbeat assessment of the world’s number three economy on Thursday, but it flagged risks including “developments” in the United States and Chinese economies, as well as Britain’s exit from the European Union. The Bank of Japan held fire on fresh policy measures in a widely expected decision after a meeting, a day after the Federal Reserve tightened borrowing costs and underscored its confidence in the world’s […]
TOKYO, Japan (AFP) — Tokyo stocks opened sharply lower Monday as the yen soared on weak US growth data and after the Bank of Japan disappointed markets with underwhelming tweaks to its stimulus programme. On Wall Street, US equities ended mostly in the black on Friday following strong earnings from major technology companies, despite weaker-than-expected quarterly growth figures from the world’s top economy. Official US data estimated second quarter growth at an annual rate of […]
TOKYO, Japan (AFP) — The yen soared against the dollar Thursday after the Bank of Japan surprised markets by holding off fresh stimulus while it pushed back its timeline for hitting a 2.0 percent inflation target. The dollar plunged to 109.15 yen just after the announcement from above 111 yen. Markets had widely expected new measures to counter a downturn in the world’s number three-economy. Speculation had picked up pace after Japan published another set […]
WASHINGTON, United States (AFP) — The IMF on Sunday defended negative interest rates set by central banks, given “significant risks” of slow growth, while acknowledging potential for dangerous boom-and-bust cycles. Six central banks, notably the European Central Bank and the Bank of Japan, have taken the unprecedented measure, aimed at loosening the reins on credit to help spur consumer spending and investment. “Although the experience with negative nominal interest rates is limited, we tentatively conclude that […]
TOKYO, Japan (AFP) — Tokyo stocks dropped again Wednesday to their lowest level since late 2014, as fears of a global recession hammered investor confidence ahead of testimony by the head of the US central bank. The plunge came the day after the benchmark Nikkei index posted a 5.4-percent drop, its steepest one-day decline in percentage terms since June 2013. On Wednesday, the Nikkei slipped 2.31 percent, or 372.05 points, lower at 15,713.39, the lowest […]
(Reuters) — Japan’s economy shrank at an annualized pace of 1.6 percent in April-June, government data showed on Monday (August 17) as exports slumped and consumers cut back spending, a bad omen for Prime Minister Shinzo Abe’s policy drive to lift the economy out of decades of deflation. China’s economic slowdown and its impact on its Asian neighbours have also heightened the chance that any rebound in growth in July-September will be modest, according to […]
