Japan
Japanese PM says BoJ ‘halfway’ to achieving sustainable growth
Central bank says it does not comment on prime ministers’ statements
Firms slow to adjust investment targets for inflation – BoJ study
Discount rates are sticky and do not rise with expected increases in price levels, research finds
Stress-test transparency: how much is too much?
The transparency drive to disclose bank stress-test results comes with costs
Asia-Pacific central banks list geopolitics, AI among key challenges
EMEAP, representing monetary authorities from across region, commits to strengthening co-operation
Japan holds rates, as expected, with two dissenting votes
BoJ governor says there is no ‘preset idea’ on future rate rises after dissenters call for 25bp hike
Give BoJ policy space to fight inflation, says Bessent
US Treasury secretary hints at preference for rate hikes before Japan’s central bank meets
ECB and BoJ officials reject explicit forward guidance
Central bankers promote ‘meeting-by-meeting’ approach to rates setting
BoJ’s Noguchi says need to adjust rate increasing ‘more than ever’
Member of central bank’s policy board says Japan on way to achieving 2% inflation target
Book notes: Bankers’ trust, by Aditi Sahasrabuddhe
A novel investigation into how trust among central bankers – or lack thereof – helped and worsened crises of the past
Signalling sizeable spending spooks stock markets – ECB study
Larger-than-expected fiscal measures in times of uncertainty could backfire on governments
BoJ holds policy as expected and plans to sell ETF and J-Reit assets
Two board members vote for hike, but all agree on sales that economists say will help normalise policy
Digital yen is not a given, says BoJ official
Japan’s central bank is focused on studying CBDCs but does not feel pressure to issue one
BoJ deputy governor says policy should be tightened further
Ryozo Himino says real interest rate remains low, despite three hikes since last year
How much do investors really care about Fed independence?
The answer for some is more nuanced than you might think
Bessent expects BoJ to raise policy rate
US Treasury secretary also says inflation in Japan is dragging up yields on long-term US bonds
Foreign open-end funds threaten financial stability – BoJ study
Researchers say external crises could lead to large outflows from vehicles investing in Japan
BoJ eyes further rate hikes, possibly by year’s end
Central bank says global economies’ resilience to tariffs “remarkable”, while predicting slowdown
Will the UK’s FRTB time warp turn into a horror show?
UK regulator’s proposed transition year in 2027 could double banks’ implementation work
BoJ holds policy and ups inflation expectations
Japan’s central bank says growth likely to slow then pick up again after tariffs’ effects diminish
China’s policies reduce risk of ‘Japanification’ – study
Bank of Spain research compares country’s economic challenges with its Pacific neighbour’s in 1990s
Japan FSA’s Ariizumi on Basel delays and regulating AI
Outgoing international affairs chief issues rallying call for Basel III adoption, saying Japan has “kept its promise”
More adjustment needed to JGB purchases – BoJ board member
Takata says current plan will increase supply to early 2000s levels, with potentially destabilising effects
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency