Japan
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
Bank of Japan concerned about wrong-way risk on banks’ cross-holdings
Helping banks by purchasing stock will create moral hazard, says Bank of Japan director-general
BoJ’s Shirai considers eurozone impact on Japan
Sayuri Shirai examines eurozone crisis and discusses impact on Japan; sets out three main channels through which the economy is affected
Japan paying ‘particular attention’ to Europe but holds rates
Bank of Japan watching situation in Europe closely; keeps monetary policy steady ahead of key developments in the region
Japanese prime minister nominates new rate-setters
Two new board members put forward by Yoshihiko Noda; nominations need approval by both houses of the Japanese parliament
BoJ’s Shirakawa considers demographic change in Japan
Governor of Bank of Japan examines macroeconomic impact of aging population; emphasises that Japan need not accept a lower long-run growth rate
OECD laments fragile, uneven global recovery
Economic Outlook predicts slower GDP growth across OECD countries in 2012; discusses delicate recovery around the world
BoJ’s Shirai debates how to strengthen growth momentum
Member of Bank of Japan policy board says the country should improve economic relations with emerging Asia in terms of trade and tourism and also through cross-border financial transactions
Chan highlights ‘strong business case’ for renminbi use
Norman Chan tells a conference in Tokyo that payments in renminbi can increase the efficiency of growing trade activity between Japan and China
BoJ’s Morimoto says productivity improvements needed to promote growth
Bank of Japan policy board member highlights the importance of productivity in the Japanese labour market to ensure future economic growth
Shirakawa pays respects to former Bank of Japan governor
Masaaki Shirakawa remembers former governor Yasushi Mieno who passed away in April; calls him a man of “courage and thoughtfulness”
Shirakawa says central banks not responsible for structural issues
BoJ governor Shirakawa says the structural reforms that must accompany refinancing operations cannot be achieved by central banks
BoJ’s Nishimura says strengthening growth 'crucial' for Japanese economy
Bank of Japan deputy governor emphasises central bank’s role in achieving growth potential; signals unease at the global economic impacts for future of Japanese economy
BoJ’s Miyao says deflation 'overriding issue' in Japanese economy
Bank of Japan policy board member says if the central bank pursues its monetary policy solely to meet inflation target, it would harm the development of the economy
Bank of Japan holds off rate change and further easing
Japanese central bank acknowledges "critical challenge" of overcoming deflation, but keeps rate unchanged for now