Bank of Japan (BoJ)
BoJ paper finds noisy reference rate can create volatility
Working paper studies effect of reference rates on stabilising or destabilising interbank markets; finds noise in rates reported by large banks can feed volatility and impair monetary policy
BoJ’s Nishimura sees potential for $180 billion funding for lending
Under Bank of Japan’s ‘stimulating bank lending facility’, banks could receive up to 15 trillion yen ($180 billion) in low-cost funding, says deputy governor
Shirakawa defends role of market prices in policy-making
BoJ governor says price movements in financial markets were mishandled before the crisis, but they do reflect the wider economy and can be useful to central banks
BoJ’s Shirai examines link between demographics and monetary policy
Sayuri Shirai says the Bank of Japan has been forced to respond to the twin challenges of an ageing population and a string of economic crises, making monetary policy-making difficult
Shirakawa deflects criticism over off-target inflation
BoJ chief says Japan needs stronger growth potential for effect of loose monetary policy to feed through fully; urges government to take action
BoJ deputy urges collaboration to tackle issues of ageing population
Kiyohiko Nishimura warns of ‘grave consequences’ if economic effects of demographic change are not given more attention; says regulation needs a clear focus
Japan heading for recession as economy contracts in third quarter
Bank of Japan’s back-to-back monetary easing in October was due to a significant weakening in the country’s economic outlook
QE sliced unemployment by 1.5 points, says Fed’s Williams
San Francisco Fed president says Fed's forward guidance on rates has narrowed Treasury yields by 15-20 basis points, about the same amount as QE2; asset purchases have cut unemployment by 1.5 points
BoJ paper evaluates zero interest rates in 1990s
Bank of Japan study considers the impact of zero interest rates and quantitative easing during the 1990s; says it had expansionary effects
BoJ expected to counter overseas monetary policy, minutes reveal
Bank of Japan minutes show senior Japanese government officials made demands of the Bank of Japan during its October policy meeting
BoJ mirrors BoE’s FLS and steps up easing
Bank of Japan launches scheme with similarities to Bank of England’s funding for lending and steps up the size of its asset purchase programme by $138 billion
RBNZ’s new governor rejects QE and capital controls
Reserve Bank of New Zealand’s Graeme Wheeler sees no need to introduce a ‘desperate’ measure such as quantitative easing in the country; rules out use of capital controls to limit kiwi dollar appreciation
Japan should encourage female labour participation, says IMF paper
Working paper says higher female labour market participation could deflect demographic pressures in Japan; challenges remain, but good policy can go some way to addressing them
Shirakawa proposes tackling financial stability as a ‘public good problem’
Bank of Japan governor, Masaaki Shirakawa, says an optimal solution to create the conditions needed for financial stability could be achieved by reviewing the challenge as a ‘public good problem’
IMF meeting set to reinforce global pessimism
Governments need to take urgent policy action to capitalise on the ‘breathing space’ created by central banks. But few attending the IMF meeting in Tokyo believe law-makers are fit for the task
BoJ deputy champions regional regulation
Kiyohiko Nishimura questions how to best spread a regulatory framework across the globe; says regional heterogeneity is an important consideration
IMF says urgent action required in eurozone
Fund’s Global Financial Stability Report highlights progress with reforms in Europe but warns risks have increased since April; says eurozone policy-makers must act quickly to ensure stability
Adaptability key to stability, says Shirakawa
Bank of Japan governor reviews the main roles of central banks and says adaptability is now crucial to achieving other goals
BoJ Tankan documents fall in business confidence
Tankan short-term economic survey reports drop in business confidence across all business sizes but fall not as severe as expected in small and medium-sized enterprises
BoJ’s Yamaguchi fears asset purchase backlash
Bank of Japan deputy governor says asset purchases may be misinterpreted as fiscal monetisation; could impact market’s confidence and interest rate levels
Robert Pringle’s Viewpoint: Central bankers gamble for high stakes
The world’s major central banks have made high-stakes bets in a bid to stabilise economies. But their efforts may do little to promote confidence in the longer-term future of monetary management
BoJ expands asset purchase programme
Japanese policy board votes to increase purchases of government bonds and treasury bills; Bank of Mauritius governor highlights risk to central bank reserves from further asset purchases
Shirakawa calls for increase in Japan’s potential for growth
Bank of Japan governor says monetary easing has created accommodative financial conditions; calls for private sector to take advantage
BoJ officials took pay cuts in wake of natural disaster
Annual review shows officers at Bank of Japan took pay cuts to support rebuilding efforts following 2011 earthquake; central bank sees increase in profits