Japan
Minister takes heat off BoJ, calls for Diet to do more against deflation
Senior vice minister Hideo Hiraoka says government must employ fiscal and industrial policy to quell deflation; comments add to growing body of support for Bank of Japan’s policy stance
Turkey’s Yilmaz dismisses benefits of capital deepening
Central Bank of Turkey governor Durmuş Yılmaz says country should focus on increasing existing sources of production instead of increasing capital intensity
China now world’s second-largest economy, says PBoC’s Yi
People’s Bank of China vice governor Yi Gang says China has overtaken Japan
Ex-deputy Muto endorses Bank of Japan’s anti-inflation targeting stance
Former Bank of Japan deputy governor Toshiro Muto says introducing inflation targets, as government wishes, will not cure deflation; analysts agree
Fed’s Bullard calls for further QE
St Louis Federal Reserve president James Bullard says United States must commit to further stimulus if it wants to avoid a deflationary trap like Japan
Policy produces dull but safe banks
In the second of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted the nation’s global outlook
Quantitative easing doesn’t work: Woodford
National Bureau of Economic Research paper co-authored by Michael Woodford says quantitative easing has little impact, but credit easing does occasionally when targeting specific assets
Crisis makes Tokyo more insular
In the first of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted the nation’s global outlook
Lending in Japan remains subdued: BoJ survey
Bank of Japan survey on bank lending reports continued weakness in demand for loans by firms
Bank of Japan – Monthly Report of Recent Economic and Financial Developments (July 2010)
Bank of Japan report shows boost in export growth was undermined by chronic deflation problems
Bank of Canada: Chinese shocks have global bearing
Bank of Canada study shows China’s monetary policy is less effective at weathering shocks and country must be incorporated in global models
Bank of Japan appoints first female branch manager
Tokiko Shimizu becomes first woman to head regional branch of central bank
BIS’s Caruana warns macroprudential policies may have unintended consequences
Bank for International Settlements general manager Jaime Caruana says macroprudential policies alone do not guarantee protection from systemic risks
Bank of Japan details direct lending programme
Central bank outlines $33 billion quasi-fiscal programme to support economic growth; analysts say measure is a political gesture
Wellink says Basel III to be phased in gradually in bid to soothe fears
Basel Committee chairman Nout Wellink says proposals on new regulations on banking will be introduced in an orderly manner; unrepentant on costs to growth
Japan’s new finance minister says government will not interfere in BoJ policy
Japan’s newly appointed finance minister Yoshihiko Noda says current central bank stance is fine
Bank lending continues to decline in Japan
Bank of Japan data shows continued squeeze in lending between domestic institutions
Taskforce to overhaul Asian post-trade framework
Central banks of Hong Kong and Malaysia team up with settlement systems firm Euroclear to create pilot common platform to improve central securities depository infrastructure
New Japanese PM could pressure BoJ to loosen
Japan’s new prime minister and former Bank of Japan critic Naoto Kan hints at more accommodative monetary policy; analysts think central bank’s independence will not be affected
Bernanke says central bank independence essential during periods of QE
Federal Reserve Chairman Ben Bernanke says central bank must retain independence during periods of unconventional policy
Bank's Posen on western economies turning Japanese
Bank of England rate-setter Adam Posen discusses relevance of Japan's deflationary experience to western economies today
IMF’s Lipsky: IMF should be at core of global financial safety net
IMF first deputy director John Lipsky says Fund is best placed to introduce global safety net
BOJ's Kamezaki: Japanese deflation imminent threat
Bank of Japan board member Hidetoshi Kamezaki says the risks of deflation must be widely acknowledged in the economy
China sought safety in US Treasuries as eurozone markets unsettled investors
Treasury data out on Monday show China and Japan heavily increased their holdings in US Treasuries in March