Japan
Forward guidance can help QE succeed, Finnish research says
Article in Bank of Finland bulletin considers whether eurozone is at risk of Japanese-style deflation, finding the ECB’s asset purchases reduce the odds of this outcome
BoJ sees inflation remaining at 0% for 'the time being'
Central bank to fall short of 2% inflation target in April as consumer prices stagnate on back of lower oil prices; more easing unlikely, says analyst
BoJ’s easing boosts inequality, warns IMF paper
Working paper finds attempts to meet Japan’s 2% inflation target are increasing income growth and inequality; calls for structural reform to make this growth more inclusive
BoJ’s Miyao extols virtues of open-ended QE
Outgoing policy board member says open-ended QE tends to have stronger effects than limited versions and may have additional impact via forward guidance and fiscal channels
BoJ’s Nakaso: More to be done to anchor expectations
Deputy governor points to ‘green shoots’ with regard to inflation and wage expectations but warns more work must be done to anchor them at the 2% target
First CPMI-Iosco peer review finds gaps in trade repository principles
Peer review of Principles for Financial Market Infrastructures in Europe, Japan and the US finds jurisdictions have made good progress with CCPs, but gaps remain among trade repositories
Kuroda says oil shock has not thrown recovery off track
Inflation was nearing the target before being knocked down by the oil price collapse, BoJ governor says, insisting Japan’s ‘deflationary mind-set’ is still steadily fading
Japan at a turning point but liquidity risks loom, say panellists
Panel at Japan Securities Summit including BoJ’s Takehiro Sato believes Japan’s ‘certain, coordinated and creative’ policy mix will deliver the first turnaround in 20 years
BoJ nominee Harada: monetary stimulus, fiscal discipline
A review of Yutaka Harada’s published papers and articles reveals the Bank of Japan Policy Board nominee is likely to favour more stimulus from the central bank and less from the government
BoJ’s Iwata says QQE is a break with history
Deputy governor says latest asset purchases programme a sign of dramatic ‘regime change’ and consumers will have to respond – it is just a question of when
Eichengreen says central banks should worry more about deflation than 'profits and losses'
The Berkeley professor on what last week's SNB move says about big central banks 'wrong-footing' markets and the Fed's problematic response to financial crisis
BoJ opinion survey highlights shift in expectations
Survey of public opinion sees Japanese people increasingly pessimistic about the economy as a whole, but there are signs the Bank of Japan’s policy efforts may be paying dividends
Bank of Japan to release first bond market survey results in March
With new QQE measures introduced in October, Bank of Japan will conduct a new bond market survey in February to 'enhance dialogue with market participants'
BoJ paper outlines enhancements to flow of funds data
Review paper details improvements to flow of funds accounts statistics in Japan introduced since the global financial crisis, and identifies a number of trends that have emerged
Signs of reflation in Japan as Abe sweeps back to power
Tankan survey shows degree of optimism among businesses and potential for rising wages in coming months, although evidence is mixed; Shinzo Abe reclaims supermajority in election
Central banks should consider financial stability when setting monetary policy, finds BoJ paper
Discussion paper published by the Bank of Japan argues the risk-taking channel of monetary policy has ‘become more important’ as financial intermediation has moved to markets
BoJ’s Sato explains QE dissent
Board member who voted against expansion of QE in October says he already sees a ‘virtuous circle’, meaning more asset purchases bring high risks will little reward
BoJ launches ‘plain language’ economics journal
‘Research Lab’ journal aims to convey Bank of Japan’s research in a ‘concise and plain’ fashion, with the publication tailored for mobile phone and tablet users
BoJ’s Nakaso sees opportunities for payments innovation
Options on the table include 24-7 real-time payment systems, improved cross-border linkages and better financial messaging systems
BoJ minutes reveal fears of QE ‘side effects’
Minutes from meeting that saw central bank ramp up asset purchases reveal concerns among board members; Kuroda and Nakaso speak in defence of the policy
Kuroda wins over BoJ policy rebels
Three of four dissenters at the last policy meeting line up behind Bank of Japan’s expanded easing programme as inflation slips lower
Snap election spells headache for BoJ
Shinzo Abe calls snap election to bolster support for delaying a planned tax hike, but the move has implications for the Bank of Japan’s quantitative easing programme
Carney dismisses call for helicopter money
Bank of England governor says he ‘cannot envisage any circumstance’ where direct central bank financing of government debt would be justified – but some central banks may already be doing it
BoJ’s Sato sees macro-prudential comms issue
Policy board member identifies three issues surrounding the implementation of macro-prudential measures – timing, communication and spillovers