Japan
Dissent erupts between government, Bank of Japan
Simmering differences between the government and the Bank of Japan over how to revive the economy burst into the on Feb 16, 2001 on the eve of a high-profile meeting of finance ministers and central bankers of the world's seven richest nations. Finance…
Japan LDP members call for BOJ's Hayami to resign
Some members of the ruling Liberal Democratic Party's (LDP) financial panel called for Bank of Japan Governor Masaru Hayami to resign at a meeting on Feb 14, 2001 a senior panel member said.They criticised Hayami for ending the policy of guiding key…
Japan admits economic going is getting tougher
Japan acknowledged on Feb 13, 2001 it is flirting with recession, but ministers and some economists expressed confidence the steps by the Bank of Japan (BOJ) to calm the money markets would help to put a floor under the economy. Economics Minister Taro…
Political Economy of the Japan's Financial Markets
In this book, the authors Dick Beason and Jason James attempt to cut through the myths that surround the Japanese markets, and extrapolate a clear, realistic picture of their twenty year transition. The book is divided into four. The authors lay out the…
Japan cuts interest rates
The Bank of Japan has decided to cut its largely symbolic discount interest rate to 0.35% from 0.5%. However, Japan's key interest rate, called the overnight call rate, has been kept at 0.25%. The Bank of Japan (BoJ), led by governor Masaru Hayami, has…
BOJ Hayami-econ not at risk of deflationary spiral
Bank of Japan Governor Masaru Hayami said Feb. 8 the central bank will stick to its current easy monetary policy to support the economy, but added that the bank would watch carefully for any sign of an economic slowdown. "The BOJ is willing to keep its…
Japan govt keeps heat on BOJ as economy struggles
Members of a government council pressed the Bank of Japan (BOJ) to boost the fragile economy through a monetary easing, minutes of an economic council meeting showed on Feb 7, 2001.The minutes were released two days ahead of a BOJ Policy Board meeting at…
BOJ has 1st workshop on prices on April 19
The Bank of Japan (BOJ) said Feb. 6, 2001 it will organize a workshop on price stability, inviting market players and businesspeople in the distribution sector as well as academics, government experts and its own staff. With the first meeting slated for…
BoJ deputy gov defends ending of 0% interest rate
The Bank of Japan was not wrong in ending its zero interest rate policy last August, Sakuya Fujiwara, a central bank deputy governor, said on Jan. 31. "Look at the market and economic indicators in the month following the removal of the zero rate,"…
BOJ Hayami-economy moderately recovering
Bank of Japan Governor Masaru Hayami reiterated Jan. 29 that while the economy is gradually recovering, the pace of growth is slowing due to a fall off in exports. "The economy continues to moderately recover, but the tempo is easing due to a…
IMF to cut world growth forecast sharply
The deputy head of the International Monetary Fund said on Jan. 27, 2001, the IMF may cut its 2001 world growth forecast to around 3.5 percent from 4.2 percent and warned Japan had little scope to spur growth soon. Stanley Fischer, first deputy managing…
Ex-BOJ Wakatsuki - No return to zero rates
The Bank of Japan (BOJ) is likely to keep the key short-term rate target at 0.25 percent for some time, and a return to providing free money was improbable, former BOJ director Mikio Wakatsuki said on Jan. 25. "I think the BOJ will keep the key short…
BoJ Gov dismissed worries over financial stability
Bank of Japan Governor Masaru Hayami has downplayed concerns that the country's financial stability could be put at risk by falling stock prices. Speaking on Jan. 25 at the Upper House audit committee, the central bank chief said, "there is no need to be…
MTS sees JGB volume soaring with electronic deals
The start of an electronic inter-dealer brokerage system for Japanese government bonds (JGBs) will bring a huge increase in trading volumes, MTS Japan Securities CEO William Campbell said in an interview.
Hayami rules out early quantitative easing steps
Bank of Japan Gov. Masaru Hayami said Jan. 23 that an instruction issued to bank executives to study ways to boost liquidity in the nation's money market does not mean the central bank will take additional quantitative monetary easing measures any time…
Japanese interest rates held at 0.25%
At the Monetary Policy Meeting held Jan 19, the Bank of Japan decided, by majority vote, to maintain the uncollateralized overnight call rate at an average of around 0.25%.
Japan's RTGS to go live Jan 4 as planned
The Bank of Japan said Jan 2 it would launch its new real-time gross settlement system for bond and money market trading on Thursday, as planned. The BOJ made the announcement after earlier conducting a last-minute systems test to make sure all…
BOJ's Hayami highlights risks to Japan economy
Japan's central bank governor said on Dec 22 the deflation risks that have hamstrung economic recovery for years were back in the picture, while the top economic planner hinted that growth may have already contracted.
BoJ preparing for RTGS start on January 4
The Bank of Japan has been preparing for the introduction of the new RTGS system to the BOJ-NET, the Bank's on-line system for the settlement of funds and the Japanese government securities.
BOJ's Hayami says Japan recovery stalling
Improvement in Japanese corporate sentiment has stalled and the nation's economic recovery has slowed, the nation's central bank chief said on Tuesday, confirming what financial markets have suspected for weeks.
FRC declares Kansai Kogin, Tokyo Shogin insolvent
The government's Financial Reconstruction Commission (FRC) on Saturday declared Kansai Kogin and Tokyo Shogin insolvent, believing the credit unions are severely undercapitalised, and will appoint administrators to oversee them, FRC officials said.
BOJ board keeps monetary policy unchanged
The Bank of Japan said on Friday its policy board decided to continue its policy of driving the key overnight call rate to 0.25%, a decision widely expected by financial markets. The decision was by a majority vote.
Hayami says to supply ample funds for RTGS start
Bank of Japan governor Masaru Hayami said on Friday the central bank would supply ample funds to the money market to prepare for the adoption of the Real-Time Gross Settlement system on January 4.
BOJ eyes extension of settlement system operation
The Bank of Japan said Monday it is considering operating its settlement system until 5:30 p.m., instead of an earlier-planned 5 p.m., on days for issuance of certain government securities.