Japan
The IFF China Report 2019: Financial deepening, fintech development and green financing
The past 40 years have seen China transform from a recipient of global aid to a major economic centre in its own right. China is now seeking to deepen its markets, gradually open its borders to global financial flows, and promote new and innovative forms…
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
The turmoil test for emerging and advanced economies
Greater integration between advanced and emerging market economies during globalisation has made both more susceptible to risk of spillover – financial contagion and volatility. As the US continues to normalise its monetary policy, deputy governor of…
IMF cuts growth forecasts for most economies
Japan and China are the only two to receive a more optimistic outlook from the IMF
BoJ downgrades economic outlook as regional growth disappoints
Haruhiko Kuroda says robust domestic demand could offset some of the weaknesses in exports
Fed’s rate pause puts pressure on BoJ
Fed’s dovishness could pull JGB yields lower and put upward pressure on the yen
Kuroda warns of more QE if yen continues to strengthen
But Bank of Japan continues to cut purchases of Japanese government bonds
BoJ minutes show disagreement over outlook
Not all members agree on how low 10-year yields should be
BoJ cuts inflation forecast in fourth consecutive outlook report
Central bank maintains interest rates and yield curve control
BoJ must normalise policy to cope with ageing population – former official
Japanese firms face labour shortages and limited ability to raise prices- Shirai
BoE’s leveraged loan research draws interest from overseas
UK exposures are modest but firms in US and Japan have bigger holdings of CLOs
Individual bank diversification can increase systemic risk, researchers find
Banks that are not systemically important can be ‘systemic as a herd’, authors say
Kuroda defends BoJ’s asset purchases
Central bank could face problems when it unloads ETFs, former senior official warns
BoJ’s monetary easing criticised as balance sheet passes 100% of GDP
Central bank’s QQE has had limited impact but a wind-down poses significant risks, Sayuri Shirai warns
Japan does not need more large-scale stimulus to avoid deflation – Kuroda
Below-target inflation still requires ultra-low interest rates and asset purchases
Bank of Japan on hold as inflation slips
The central bank keeps negative rates despite warning about the policy’s risks
Sino-Japanese political optics right for $30bn swap and Tokyo RMB clearing
BoJ and PBoC agree local currency swap line after long delay
BoJ sticks to upbeat message despite dissent
Policy remains on hold as inflation continues to disappoint
What next for the BoJ’s unprecedented ETF experiment?
Exiting the policy may prove extremely challenging, says Sayuri Shirai
Kuroda says controls on high-frequency trading ‘critical’
HFT can aid market efficiency, but action is needed to tackle its downside, says BoJ governor
BoJ sets out goals for interest rate benchmark reform
Working committee aims to publish deliberations in March 2019
A mere tweak or a step toward normalisation?
Sayuri Shirai says the BoJ has controlled market expectations while still opening the door to normalisation