Bank of Japan (BoJ)
DLT offers new possibilities for securities settlement, says ECB and BoJ team
Second phase of ‘Project Stella’ looks at delivery versus payment on three DLT platforms
BoJ policymakers eye hopeful signs for inflation
Policy remains on hold as inflation shows some signs of greater strength; one member calls for further easing measures
People: Nominations to BoJ; Moghalu mulls presidential bid
Kuroda nominated for fresh term alongside two deputies; former CBN deputy considers bid for Nigerian presidency; Riksbank deputy reappointed
BoJ’s Kuroda in line for second term
Haruhiko Kuroda looks set to be the first governor to be reappointed in over 50 years, but the choice of deputies is unclear
Bank of Japan increases bond purchases amid global sell-off
Both the prime minister and the governor see no rush to withdraw stimulus
BoJ board notes disappointing inflation indicators
Low inflation and expectations in a “weakening phase” drag on BoJ’s policy outlook
BoJ’s cut to bond purchases not an exit strategy, say analysts
Move was unexpected, but analysts do not see it as a sign the BoJ may be preparing to exit its stimulus programmme
Bank of Japan keeps policy setting on hold
BoJ keeps policy on hold as inflation target remains elusive; Goshi Kataoka dissents again
BoJ working closely with fintech firms, says Kuroda
Fintech can make contributions to both emerging and developed countries, but needs close monitoring, Haruhiko Kuroda says
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
BoJ lowers inflation forecast as policy stays on hold
BoJ downgrades inflation forecast again, leaving tightening unlikely anytime soon
The optimal size for central bank balance sheets
As the Fed seeks to reduce the assets on its balance sheets, Charles Goodhart examines the role between monetary and fiscal policy, central bank and debt office, and the optimal size of a central bank’s balance sheet
BoJ says Japan is overbanked
The central bank says Japanese banks may have too many employees and branches
Better structure could protect investors in P2P market - BoJ paper
Use of “specific purpose companies” could help protect investors in the event of the collapse of a P2P platform
Japan’s ineffective efforts at monetary easing
A study of the natural rate of interest indicates the Bank of Japan’s QQE may not have been as accommodative as claimed, Sayuri Shirai argues. The failings appear to be related to effectiveness, rather than scale
Kuroda: future need not be fully centralised or decentralised
BoJ governor says both approaches to market infrastructure have pros and cons, and it is not necessary to have one or the other
Kuroda deflects criticism of 2% target
BoJ governor pushes back at those calling for a reduction in the target, as inflation in Japan remains off course
Leading asset manager warns policy normalisation ‘may never occur’
Northern Trust believes monetary policy is unlikely to revert to pre-crisis levels; observers say central banks are broadly taking the right approach
The Treasury could make QE exit faster and smoother
Swapping longer-term bonds for Treasury bills or floating-rate bonds would expedite the process of reducing bloated central bank balance sheets
Momentum towards inflation target is strengthening, says BoJ board member
Rising household income and productivity are positive signs, Takako Masai says
The changing composition of central bank balance sheets
Quantitative easing may have been necessary, but it has created worrying distortions and has probably discouraged structural change, while deflecting attention away from ever-greater levels of debt leverage
Bank of Japan cuts inflation forecast as policy remains on hold
The BoJ cuts its forecast for prices as it struggles to hit its inflation target; keeps policy steady
The BoJ’s exit policy and balance sheet risks
The Bank of Japan will need to follow a meticulous sequencing of events as its ‘normalises’ monetary policy, making current concerns about negative equity appear premature