Bank of Japan (BoJ)
IMF says Japan's 'aggressive' QQE could be needed for ‘extended period’
The Bank of Japan may have to keep QQE running for ‘an extended period of time’ according to the IMF, and should consider providing forward guidance on its asset purchases
BoJ’s Shirai forecasts inflation dip
Sayuri Shirai believes annual CPI inflation will only reach the 2% target at the end of 2016 – making the forecasts more cautious than the BoJ’s baseline
Kuroda: rising inflation expectations feeding into wages
Tightening labour market conditions and higher inflation expectations are both serving to increase wages, Kuroda tells Tokyo audience
BoJ has increased income inequality, says Dutch paper
Researchers at The Netherlands Bank say the Bank of Japan’s asset purchases have contributed to the country’s income inequality by pushing up asset prices
BoJ takes financial system's temperature
Bank of Japan says financial systems are generally healthy and resilient, but could be impacted by an economic downturn coupled with a rise in interest rates
Central bank communication key to herding behaviour, BoJ paper finds
‘Two layer’ model of investor information highlights crucial role for central bank communications in causing – and containing – herding behaviour in markets
Lagarde calls for co-ordination to contain ‘spillovers' and ‘spillbacks'
Speech warns advanced economies they can suffer from negative feedback when their policies cause spillovers in emerging markets
BoJ review dissects inflation expectations
Economists from monetary analysis department say BoJ communication has generated a 'spike' in expectations around 2%, but dispersion is still ‘substantial’
BoJ mimics Fed with new 'organisational principles’
The Bank of Japan adopts a similar range of values to the Federal Reserve, while setting its strategic goals for the next five years
BoJ’s Iwata dismisses hyperinflation fears
Bank of Japan deputy governor insists the central bank is not just committed to achieving 2% target when the economy is struggling with deflation
Kuroda: BoJ will do whatever necessary to hit 2% inflation
The Bank of Japan is right to target 2% inflation, governor Haruhiko Kuroda said today - adding the bank will not hesitate to make any adjustments necessary to get there
Kuroda confident of hitting inflation target
Bank of Japan governor Haruhiko Kuroda says economy is following the path to 2% inflation ‘as expected’; fellow board member Takahide Kiuchi has ‘more cautious outlook’
BoJ holds rates as tax hike looms
Bank of Japan policy board holds QQE steady and maintains economic assessments in its last meeting before consumption tax hike comes into effect
Wages more sticky in the US than in Japan, BoJ paper finds
The empirical fit of the New Keynesian Wage Phillips Curve is generally superior for Japan, auhors note; inflation indexation plays a key role in the US, but is less important in Japan, they add
BoJ extends lending schemes as economic growth disappoints
Two schemes aimed at stimulating bank lending are expanded and extended as economic data falls below Bank of Japan expectations; analysts expect more easing next quarter
Public opinion of BoJ policy continues to dive
Bank of Japan survey shows majority of Japanese people now think interest rates are too low, while a growing proportion believe the economy will worsen over the next year
Unco-ordinated macro-prudential policies could result in ‘capital war’, says BoJ paper
Johns Hopkins professor argues that, absent any co-operation, countries across the globe will implement macro-prudential policies in a manner ‘reminiscent of an inefficient arms race’
BoJ mulls ‘more thorough’ communication
Minutes from December meeting reveal policy board members’ concern over market scepticism towards the BoJ’s path back to 2% inflation; suggest clarifying reaction function
Major central banks phase out dollar liquidity operations
ECB, BoE, BoJ and SNB will start scaling back the amount of dollar liquidity they offer to market participants in April in response to waning demand
BoJ’s Shirai warns against rush for 2% inflation at all costs
Sayuri Shirai says it ‘may be appropriate’ to take longer than two years to meet the central bank’s inflation target of 2%; stresses the importance of achieving the goal in a ‘stable’ manner
Kuroda draws on lessons from Paul Volcker’s Fed tenure
Bank of Japan governor Haruhiko Kuroda points to Paul Volcker’s success in lowering inflation expectations in the United States as proof of central banks' ability to influence markets
Kuroda calls for research into political constraints on monetary policy
Bank of Japan governor Haruhiko Kuroda stresses the need to understand more about the ‘political and administrative feasibilities’ that bind monetary policy
BoJ’s Sato says central bank is ‘breaking away’ from incremental policy
Policy board member Takehiro Sato says QQE marks a departure from the conventional incremental approach to policy-making; says additional easing could be ‘counterproductive'
BoJ will need ‘aggressive' re-capitalisation at end of QQE, top economist warns
Nomura chief economist warns the practice of handing over the profits from QE to the Japanese government means the central bank could find itself under-capitalised when the programme ends