Bank of Japan (BoJ)
Are central banks the ‘Figaro’ of the financial markets?
Central banks continue to play a vital position in the functioning of markets. While this raises significant concerns about moral hazard it is not an unfamiliar role from an historical perspective
Japan at a turning point but liquidity risks loom, say panellists
Panel at Japan Securities Summit including BoJ’s Takehiro Sato believes Japan’s ‘certain, coordinated and creative’ policy mix will deliver the first turnaround in 20 years
BoJ nominee Harada: monetary stimulus, fiscal discipline
A review of Yutaka Harada’s published papers and articles reveals the Bank of Japan Policy Board nominee is likely to favour more stimulus from the central bank and less from the government
BoJ’s Iwata says QQE is a break with history
Deputy governor says latest asset purchases programme a sign of dramatic ‘regime change’ and consumers will have to respond – it is just a question of when
Leading central bankers unsure about impact of technology on monetary policy
Carney, Kuroda and Coeure debate the elusive Phillips curve in Davos; rejecting ‘technological pessimism', Carney says ‘just catching up is a huge opportunity of growth potential'
BoJ opinion survey highlights shift in expectations
Survey of public opinion sees Japanese people increasingly pessimistic about the economy as a whole, but there are signs the Bank of Japan’s policy efforts may be paying dividends
Bank of Japan to release first bond market survey results in March
With new QQE measures introduced in October, Bank of Japan will conduct a new bond market survey in February to 'enhance dialogue with market participants'
BoJ paper outlines enhancements to flow of funds data
Review paper details improvements to flow of funds accounts statistics in Japan introduced since the global financial crisis, and identifies a number of trends that have emerged
2014: The year in review
The past year has seen central banks across the globe grapple with reform, at an institutional and global level – we look back at the biggest stories of 2014
Signs of reflation in Japan as Abe sweeps back to power
Tankan survey shows degree of optimism among businesses and potential for rising wages in coming months, although evidence is mixed; Shinzo Abe reclaims supermajority in election
Central banks should consider financial stability when setting monetary policy, finds BoJ paper
Discussion paper published by the Bank of Japan argues the risk-taking channel of monetary policy has ‘become more important’ as financial intermediation has moved to markets
BoJ’s Sato explains QE dissent
Board member who voted against expansion of QE in October says he already sees a ‘virtuous circle’, meaning more asset purchases bring high risks will little reward
BoJ launches ‘plain language’ economics journal
‘Research Lab’ journal aims to convey Bank of Japan’s research in a ‘concise and plain’ fashion, with the publication tailored for mobile phone and tablet users
BoJ’s Nakaso sees opportunities for payments innovation
Options on the table include 24-7 real-time payment systems, improved cross-border linkages and better financial messaging systems
BoJ minutes reveal fears of QE ‘side effects’
Minutes from meeting that saw central bank ramp up asset purchases reveal concerns among board members; Kuroda and Nakaso speak in defence of the policy
The shift to a multi-polar world
Extraterritorial reach of US policies could hasten the use of alternative currencies; decision on renminbi inclusion in SDR may be a tipping point for relevance of Bretton Woods institutions
Kuroda wins over BoJ policy rebels
Three of four dissenters at the last policy meeting line up behind Bank of Japan’s expanded easing programme as inflation slips lower
Robert Pringle’s Viewpoint: Time to cure central bankers’ deflation phobia
The policies followed since the ‘great crisis’ have not succeeded in restoring confidence. It is time to try a different approach
Snap election spells headache for BoJ
Shinzo Abe calls snap election to bolster support for delaying a planned tax hike, but the move has implications for the Bank of Japan’s quantitative easing programme
BoJ’s Sato sees macro-prudential comms issue
Policy board member identifies three issues surrounding the implementation of macro-prudential measures – timing, communication and spillovers
BoJ paper finds US crisis policy more impactful on markets than European measures
Authors test policy responses to the global financial crisis including monetary, liquidity and financial sector policies, finding US announcements led to higher abnormal returns
Lagarde approves of BoJ’s ‘brave’ decision to launch more QE
IMF managing director describes ramping up of asset purchases as ‘perfectly legitimate’ and ‘brave’ on high-level panel in Paris; Yellen, Coeuré, Rajan and Carstens also feature
BoJ team surveys payment innovation landscape
Central bank lays ground for retail payments innovation in Japan with survey of what has been tried elsewhere; highlights different forces driving change in each country
Kuroda affirms determination to ‘drastically convert’ Japan’s deflationary mindset
BoJ governor stresses commitment to continue with drastic policy measures until the ‘chronic disease of deflation’ is eradicated, in first speech since quantitative easing was ramped up