Japan
World Bank releases gloomy econ outlook for Japan
JAPAN - Japan's economy has reverted to its anaemic state and is now at higher risk of falling into recession in earnest, the World Bank said in a report on the global economy released Apr 10.
Ex-central bank official to lead Ito-Yokado bank
JAPAN - Ito-Yokado Co Ltd, Japan's biggest retail group, said on Apr 10 it would appoint central bank veteran Takashi Anzai, 59, as president of its new IY Bank.
BOJ Hayami says economy to remain stagnant
JAPAN - Bank of Japan Governor Masaru Hayami reiterated on Apr 9, 2001 Japan's economy could remain stagnant for some time and that the central bank must pay close attention to downward pressure on prices due to weak demand.
Asian countries agree currency swap network
ASIA - Asia's leading governments have put the finishing touches to plans for a network of currency swap arrangements to guard against a repeat of the 1997 regional economic crisis as concerns of a new global slowdown grow.
Japan MOF's Kuroda -will act if FX trends continue
JAPAN - Top financial diplomat Haruhiko Kuroda said on Apr 6 that Japan would take action in currency markets if current trends continued.
BoJ new board member against targeting exch rate
JAPAN - The newest member of the Bank of Japan's Policy Board said on Apr 2, 2001 she was neither a monetary policy hawk nor a dove, but questioned whether orthodox policy could loosen deflation's debilitating grip on the economy.
Hayami justifies radical monetary easing in March
JAPAN - Bank of Japan Governor Masaru Hayami on Mar 30, 2001 raised the spectre of weak demand tipping the world's second-largest economy into a destructive deflationary spiral.
Operational risk measurement- BOJ papers
CENTRAL BANK RESEARCH - The Bank of Japan's financial and payment system office has published a series of working papers on operational risk that have now been revised and improved following comments from readers.
Q&A: New procedures for BoJ money mkt operations
ARTICLE - The Bank of Japan has published a short question and answer article about its new procedures for money market operations which started on Mar 19, 2001. It says that although the procedures are intended to produce the same effects as the "Zero…
Hayami-BoJ to increase JGB outright buys if needed
Bank of Japan Governor Masaru Hayami reiterated Mar 22, 2001 that the central bank will increase its outright purchases of government bonds only when needed.
BoJ must compensate vicitm of sexual harrassment
A Japanese court has fined the BoJ $55K for failing to protect a female staff member from sexul harassement by a former manager at the bank.
BOJ's Yamaguchi to visit Washington to attend FSF
BOJ deputy governor Yutaka Yamaguchi will visit Washington from Mar 22, 2001 to attend a meeting of the Financial Stability Forum, the central bank said in a statement on Mar 21, 2001.
BoJ switches to target monetary base
As expected, the Bank of Japan has reinstated its zero interest rate policy, but it has done this by switching its operational target to expand the money supply.
Govt pressures BoJ to cut rates back to zero
NEWS - The Bank of Japan is under severe pressure from the Japanese government to cut interest rates back to zero at its monetary policy meeting on Monday 19 March.
BOJ Hayami says structural reform indispensable
Bank of Japan Governor Masaru Hayami said on Mar 15, 2001 that structural reform in the Japanese economic system and industry is needed to make monetary policy fully effective.
Academic to replace BOJ board 'hawk' Shinotsuka
A leading supporter of higher interest rates on the Policy Board of Japan's central bank is expected to be dropped when her term ends this month.
Settlement failures triple in Feb bond trading-BoJ
The Bank of Japan found 296 cases of settlement failure in Japanese government bond trading in February, the central bank said on Mar 14, 2001.
Effects of measurement error on the output gap-BoJ
RESEARCH PAPER - A new working paper "Effects of Measurement Error on the Output Gap in Japan" by Koichiro Kamada and Kazuto Masuda from the research department of the Bank of Japan discusses theoretically how measurement errors and quality changes in…
Thailand, Japan close to currency swap deal-paper
Thailand and Japan are close to concluding a bilateral currency swap agreement in the next few months as part of a regional arrangement to support Asian currencies in crisis, the Nation newspaper said on Mar 13, 2001.
BIS sets up Asia-Pacific consultative council
The Bank for International Settlements (BIS) said on Mar 12, 2001 it had set up an Asian Consultative Council comprising governors of its central bank members in the region.
Asian currency swap idea 'acceptable'-Manila c.bnk
The Philippines is basically happy with the concept of an Asian web of currency swaps aimed at fending off future financial crises and is forging ahead with discussions on terms, deputy central bank governor Amando Tetangco said on Mar 9, 2001.
No plan to drive yen lower, Hayami says
Bank of Japan Governor Masaru Hayami said on Mar 8, 2001 he was alert to the risk of a vicious deflationary cycle but firmly denied that he wanted to push the yen lower to induce inflation.
Yen crashes to 20-month lows against dollar
The yen fell beyond 120 to the dollar for the first time in 20 months on Mar 7, 2001 as expectation grew that Japan would tolerate a weaker yen to bolster its flagging economy.
Japan foreign reserves fall in Feb on weak euro
Japan's foreign reserves, the largest in the world, fell in Feb 2001 for the first time in six months, hit in part by a decline in the euro, a Finance Ministry (MOF) official said on Mar 7.