Japan
BoJ’s Yamaguchi fears asset purchase backlash
Bank of Japan deputy governor says asset purchases may be misinterpreted as fiscal monetisation; could impact market’s confidence and interest rate levels
BoJ expands asset purchase programme
Japanese policy board votes to increase purchases of government bonds and treasury bills; Bank of Mauritius governor highlights risk to central bank reserves from further asset purchases
Bundesbank starts foreign reserve operations in Tokyo
German central bank upgrades Tokyo representative office on 25th anniversary to full trading office; starts trading in Asian timezone to lower costs and gain information edge
Shirakawa calls for increase in Japan’s potential for growth
Bank of Japan governor says monetary easing has created accommodative financial conditions; calls for private sector to take advantage
BoJ officials took pay cuts in wake of natural disaster
Annual review shows officers at Bank of Japan took pay cuts to support rebuilding efforts following 2011 earthquake; central bank sees increase in profits
BoJ’s Morimoto outlines ways to combat deflation
Yoshihisa Morimoto emphasises importance of ‘capturing’ demand to overcome deflation; says CPI is currently at 0% but is expected to rise towards 1% target in fiscal 2013
Japan’s Nishimura says UK Funding for Lending scheme needs time to work
Kiyohiko Nishimura discusses unorthodox policies central banks have been turning to; believes the BoE’s Funding for Lending scheme will take a long time to have “concrete benefits”
Can Japan afford to grow?
Japan has managed to maintain living standards during its two ‘lost decades’, but its efforts to do so now represent obstacles to achieving sustainable growth. By Ryo Watabe.
BoJ’s Shirakawa calls for 'drastic deregulation' to promote growth
Masaaki Shirakawa sets out possibilities for encouraging increased investment to promote growth and inflation expectations; firms reluctant to borrow despite monetary easing
Japan seeks changes to Dodd-Frank extraterritoriality on swaps
The Japanese authorities have asked their US counterpart to reconsider extraterritorial rules on swaps and defer regulation of cross-border over-the-counter derivatives regulation for at least a year
BoJ unveils international investment position in 2011
Japanese central bank research paper shows a rise in country’s net assets; both external financial assets and external liabilities increase
BoJ minutes reveal cautious positivity about global risks
Minutes of Bank of Japan’s July monetary policy meeting shows some optimism over global risks; members vote unanimously to hold rates and adjust asset purchases
Japan holds rates and delays disbursement of fund provision
Bank of Japan maintains benchmark rate at near zero; puts off first issuance of fund provision due to reform plans for Libor
Bank of Japan economic survey finds slight reduction in pessimism
Quarterly survey of public opinion about Japanese economy finds reduction in respondents expecting economy to worsen; only small proportion of respondents anticipate improvement in conditions
IMF paper warns against delays in Japanese fiscal consolidation
Working paper studies impact of budget deficit in Japan on intergenerational inequality; finds delaying budget cuts would adversely affect younger generations
Bank of Japan paper examines reasons behind chronic deflation
Working paper gives overview of a number of factors that may have caused persistent deflation in Japan since the mid-1990s; says it is difficult to single out a dominant explanation
Bank of Japan nominates new stand-in chairman
Ryuzo Miyao designated to take on role of chairman if governor and both deputies are ‘prevented from attending to their duties’; replaces Seiji Nakamura, who left the central bank in April
BoJ’s Shirakawa urges cautious acceptance of financial innovation
Masaaki Shirakawa says innovative use of futures trading could create benefits for the wider economy; says this must be carefully controlled by implementation of Basel III rules
BoJ deputy governor says central bank ready to act
Hirohide Yamaguchi suggests possibility of further monetary easing if global economic outlook worsens; nevertheless gives positive assessment of economic conditions
BoJ deputy governor highlights benefits of financial co-operation
Kiyohiko Nishimura emphasises positive results of co-ordinated macro-prudential policy action in Asia; says links between Latin America and Asia are also important
BoJ minutes reveal unanimous vote for rate hold
Minutes of Bank of Japan’s June monetary policy meeting show unanimous support for rate hold; say deflation a 'critical challenge'
BoJ deputy governor urges EU to accelerate reform efforts
Bank of Japan deputy governor Hirohide Yamaguchi calls on EU to speed up efforts in tackling debt problems; says Asia must prepare for further shocks
IMF paper examines Japan’s emergence from lost decade
Working paper considers reasons behind a surge in Japanese exports in 2001; finds domestic productivity growth most important factor
BoJ Tankan survey shows increased business confidence
Tankan short-term economic survey reports overall increase in manufacturing confidence; forecasts further increases in next quarter