Bank of Japan (BoJ)
Bank of Japan deputy governor warns over ‘fallacy of composition'
Role of central banks has evolved to include market-maker of last resort and global lender of last resort; however, they must keep a macro-prudential perspective
UK economists divided over BoJ easing
Treasury Select Committee witnesses debate whether BoJ radical easing will overcome decade of deflation; economists fear an ‘unruly spike’ in yields when quantitative easing is unwound
G-20 unconcerned about Japanese monetary easing
Meeting of G-20 finance ministers spent ‘much less time’ discussing currency moves than at their last meeting; warns US and others to watch for bubbles
BoJ's Miyao sees weaker yen as key to ending deflation
Leading proponent of monetary easing highlights a change in the dollar-yen exchange rate as key to hitting Bank of Japan's 2% inflation target
Kuroda outlines thinking behind monetary shock tactics
New BoJ governor says ‘quantitative and qualitative measures' will remain in place until inflation stabilises at the 2% level, and explains why he rejected a gradual approach to easing
IMF annual report says asset bubbles among risks of ‘MP-plus'
IMF warns of risk associated with loose monetary policy in the world's biggest economies, but says stance should remain 'very accommodative until recovery is well established'
BoJ minutes reveal tensions over asset purchase programme
Minutes of final meeting under governor Masaaki Shirakawa show disagreement over whether to loosen policy further, including changes to quantitative easing
Kuroda unveils radical plan to end Japanese deflation
Measures aim to double monetary base in two years, with asset purchases no longer constrained by banknote rule; mixed response as questions raised over whether yet more easing will work
Kuroda uncompromising on deflation
New Bank of Japan governor says the central bank will need to expand its asset purchase programme and firmly communicate its commitment to raising inflation
BoJ researchers find Japanese banks hold too many stocks and too few bonds
Working paper analyses optimal ratio of stocks to bonds for banks to hold; finds most Japanese financial institutions are overweight equities
BoJ researcher finds need for heterogeneous response to credit flows
Working paper shows global common factors account for a ‘quantitatively important’ portion of cross-border credit, but vary between regions; suggests need for tailored policy responses
People: Kuroda confirmed; Bulgarian deputy joins government
Haruhiko Kuroda will replace Masaaki Shirakawa at the BoJ after receiving approval from parliament; Bulgarian deputy joins finance ministry in temporary switch; and more
Bank of Japan derivatives purchases threaten already low equity ratio
The BoJ's latest inflation-targeting weapon could challenge its balance sheet strength
BoJ unveils policy for oversight of market infrastructure
The Bank of Japan reveals new policy for its oversight of payment and settlement systems and CCPs; mainly concerned with mitigating systemic risk
BoJ changes represent the death knell for central bank independence
The growing policy crisis caused by central banks taking on roles beyond price stability and lender of last resort is not down to 'independence' – as the BoJ case points out
BoJ rejects immediate shift to radical easing
Bank of Japan remains committed to hitting new inflation target ‘at the earliest possible time’, but today rejected a proposal to start open-ended purchases straight away
Japan’s Kuroda signals ‘substantive step change’ in fight against deflation
Haruhiko Kuroda, nominated as the next Bank of Japan governor, says the central bank is not doing enough to stimulate inflation
Bank of Japan paper shows popping bubbles may require volatile inflation
Research finds inflation can remain stable while asset price bubbles develop, implying optimal monetary policy should tighten to reduce the bubble at the cost of below-target inflation
State Bank of Vietnam needs a single mandate not independence
Lessons from South Korea, Japan and the US indicate a single mandate would benefit the State Bank of Vietnam more than an IMF call for legal independence.
Abe picks Kuroda to head Bank of Japan
Haruhiko Kuroda nominated next governor of the Bank of Japan; markets respond positively but commentators warn Kuroda’s dovish stance could amount to debt monetisation
People: ADB chief named BoJ front-runner; Bulgarian governor ‘cannot' run for PM
Haruhiko Kuroda widely expected to succeed governor Shirakawa next month; Bulgarian governor ineligible to lead interim government
BoJ paper quantifies benefits of liquidity-saving measures in RTGS
Working paper finds introduction of liquidity-saving features in Japan’s real-time gross settlement system has saved trillions of yen; urges vigilance as monetary easing is withdrawn
BoJ survey shows households expect tough times to continue
Households see economic conditions as worse than a quarter ago and likely to stay the same, although the majority thinks prices will rise in the coming years
BoJ paper finds asymmetric macroprudential growth impacts
Research suggests macroprudential policy is good at cooling the economy but less effective at heating it, while the growth impact differs between tools