Japan
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
BoJ team surveys payment innovation landscape
Central bank lays ground for retail payments innovation in Japan with survey of what has been tried elsewhere; highlights different forces driving change in each country
Kuroda affirms determination to ‘drastically convert’ Japan’s deflationary mindset
BoJ governor stresses commitment to continue with drastic policy measures until the ‘chronic disease of deflation’ is eradicated, in first speech since quantitative easing was ramped up
Kocherlakota explains dissent from FOMC decision to end asset purchases
Minneapolis Fed president says downside risks to inflation outlook ‘arguably worse' than a year ago; says evidence from Japan and Europe shows need to act on 'an ongoing basis'
Split BoJ shocks markets with extra stimulus
Divided board narrowly votes in favour of a substantial boost to asset purchases; analysts note uncanny timing with government pension fund’s plan to add risk
Amro revamped in agreement struck at IMF meetings
Macroeconomic Research Office will become an international organisation when agreement is ratified, 'contributing further to regional financial stability'
BoJ paper details approach to macro stress testing
Tests feature model of feedback loop between economic and financial sectors, in attempt to gauge the ways in which shocks may reverberate through the economy
BoJ paper studies factors holding workers back from switching industries
Researchers find that differences in required tasks aggravate earnings gaps and encourage workers not to move, creating frictions in the Japanese labour market
Iwata says Japan’s exports headed for a ‘moderate increase’
The ‘sluggishness in emerging economies’ has provoked ‘some weakness’ in Japan’s exports, says the deputy governor of the Bank of Japan, but this should ‘gradually disappear’
BoJ focused on ‘underlying trend of prices’
The Bank of Japan kept policy steady in August; minutes from policy board meeting reveal members’ discussion about importance of using a range of price indicators
BoJ’s Ishida homes in on private consumption
Policy board member says expectations of future income growth will have to increase if private consumption is to continue driving Japan’s economic recovery
Bank of Japan expects inflation to remain short of target for ‘some time'
BoJ policy board votes to continue expanding monetary base by ¥60-70 trillion annually; effects of recent decline in demand ‘expected to wane gradually'
IMF paper considers corporate governance reform in Japan
IMF researchers say corporate governance reform could help ‘unstash the cash’ held by Japanese firms and improve the economy’s growth potential
Japan's ageing population will have deflationary effects, IMF paper finds
Deflationary effect will hit other advanced economies too, but can be countered through monetary policy and structural reforms, IMF economists write
Shrinking BoJ balance sheet will take longer post-QQE than in 2006
Economist says unwinding the BoJ’s asset purchases will take longer when QQE finishes than it did at the end of QE in 2006, because this time it is buying bonds with longer maturities
IMF endorses Japan's QQE despite slowing progress to 2% inflation target
IMF says Bank of Japan does not need to intensify its QQE programme ‘at this point’, though BoJ policy-maker Kiuchi says 2% inflation may need to be a 'long-term' goal
Kuroda says ‘prompt action’ needed to address impact of demographic changes
Bank of Japan governor tells Asian policy-makers to face up to the problems created by a shrinking working age population ‘at an early stage’
BoJ board members fear structural problems behind sluggish exports
A ‘few’ members of the policy board are concerned that competitiveness issues are to blame for slow growth in Japanese exports
Chiang Mai Initiative doubled in size to $240 billion
Financial safety net for China, Japan, Korea and the Asean nations doubled in size; Bill Allen describes the initiative as 'ornamental' as it has never actually been used