Japan
IMF issues warning to Asian central banks on risk of overheating
Regional Economic Outlook says some Asian central banks may need to tighten policy to avoid stability risks; examines complicated effects of Japanese monetary easing
BoJ board more optimistic on inflation forecast
Updated forecasts by board members show expectations creeping closer to 2% target; lack of further monetary easing disappoints markets
UK economists divided over BoJ easing
Treasury Select Committee witnesses debate whether BoJ radical easing will overcome decade of deflation; economists fear an ‘unruly spike’ in yields when quantitative easing is unwound
BoJ's Miyao sees weaker yen as key to ending deflation
Leading proponent of monetary easing highlights a change in the dollar-yen exchange rate as key to hitting Bank of Japan's 2% inflation target
Kuroda outlines thinking behind monetary shock tactics
New BoJ governor says ‘quantitative and qualitative measures' will remain in place until inflation stabilises at the 2% level, and explains why he rejected a gradual approach to easing
Kuroda unveils radical plan to end Japanese deflation
Measures aim to double monetary base in two years, with asset purchases no longer constrained by banknote rule; mixed response as questions raised over whether yet more easing will work
Shirakawa examines ways for Japan to hit 2% inflation target
Bank of Japan governor says inflation will only be beneficial if it is driven by the right factors; says improved expectations are key to restoring Japan’s growth potential
BoJ unveils policy for oversight of market infrastructure
The Bank of Japan reveals new policy for its oversight of payment and settlement systems and CCPs; mainly concerned with mitigating systemic risk
Japan’s Kuroda signals ‘substantive step change’ in fight against deflation
Haruhiko Kuroda, nominated as the next Bank of Japan governor, says the central bank is not doing enough to stimulate inflation
Bank of Japan paper shows popping bubbles may require volatile inflation
Research finds inflation can remain stable while asset price bubbles develop, implying optimal monetary policy should tighten to reduce the bubble at the cost of below-target inflation
Renminbi internationalisation to get boost from 60m overseas Chinese
Use of the renminbi by the 60-million strong Chinese diaspora will accelerate the currency’s use in global trade and reserves management. By Gary Smith.
Abe picks Kuroda to head Bank of Japan
Haruhiko Kuroda nominated next governor of the Bank of Japan; markets respond positively but commentators warn Kuroda’s dovish stance could amount to debt monetisation
BoJ paper quantifies benefits of liquidity-saving measures in RTGS
Working paper finds introduction of liquidity-saving features in Japan’s real-time gross settlement system has saved trillions of yen; urges vigilance as monetary easing is withdrawn
BoJ survey shows households expect tough times to continue
Households see economic conditions as worse than a quarter ago and likely to stay the same, although the majority thinks prices will rise in the coming years
IMF staff present mixed economic outlook following G-20 meeting
Report sounds note of cautious optimism as financial markets recover, but downside risks remain around the implementation of important policies in the US, Japan and Europe
BoJ paper finds asymmetric macroprudential growth impacts
Research suggests macroprudential policy is good at cooling the economy but less effective at heating it, while the growth impact differs between tools
BoJ board divided ahead of new governor appointment
Minutes detail arguments made by two policy board members who opposed move to 2% target, and why they were overruled; Shinzo Abe hints Bank of Japan could lose independence if target is not hit
BoJ board member says 2% target is not sustainable
Takehiro Sato explains his vote against Bank of Japan’s inflation target change, and says central bank will not intervene to depress the value of the yen – but the government might
‘Crisis in the eurozone is not over’, says MAS chief
MAS's Ravi Menon offers a roadmap to central banks and governments to help ‘normalise’ the global financial system; hits out at loose monetary policies and says fiscal policy debate is misinformed
BoJ target leaves Japan inflation swap market unmoved
Doubling Japan's inflation target has had a limited impact on the domestic inflation market
BoJ says onus for recovery is now back with the government
Bank of Japan says monetary easing has ‘thoroughly permeated' the financial system; shifts onus back onto the government to tackle structural problems that are holding back growth
Fears over BoJ independence as central bank bows to government
Commentators express concerns over the Bank of Japan’s independence as the central bank introduces 2% inflation target and open-ended asset purchases
Abe adviser hints at possible BoJ governor candidates
Economic adviser to Japanese Prime Minister Shinzo Abe suggests possible names and criteria for the next Bank of Japan governor
BoJ’s Shirai hints deflation is partly out of the central bank’s hands
Sayuri Shirai says conquering deflation depends partly on demographic change, red tape and weak growth expectations, which the Bank of Japan has limited influence over