Japan
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
Final frontier? Japan after the Kuroda experiment
The Bank of Japan has pushed monetary easing close to its limit, yet inflation is barely above zero. What happens now?
BoJ projects inflation will climb to 1% by mid-2022
Haruhiko Kuroda says BoJ must continue “powerful” monetary easing with QQE and yield curve control
Time to stop handing out the pills: the great QE detox
We are facing a serious inflation threat that will test the resolve of central bankers, writes Jagjit Chadha. Central banks must reduce their reliance on QE. But how?
BoJ cuts inflation outlook to zero as it holds rates
Producer price inflation in Japan is at a 13-year high, but CPI inflation lingers around zero
CBDC just one option for future payment system, says BoJ official
Japan’s central bank says CBDC could solve safety and interoperability issues, but is not the only option
Laos central bank to partner with Soramitsu on CBDC study
The study is said to begin as early as this month, but a launch of CBDC remains unsure
BoJ holds rates as Japan waits for new prime minister
Central bank warns of possible financial problems from persistent Covid-19
BoJ unveils new 10,000-yen note
New banknote features “father of Japanese capitalism” and is set for issue in 2024
BoJ deputy cautions against ‘premature tightening’
Core CPI is not the sole indicator of the BoJ’s monetary policy, says Wakatabe Masazumi
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
Bank Indonesia bolsters FX settlement with Japan and Malaysia
BI continues to promote local currencies in a bid to “reduce dependence on the US dollar”
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
BoJ to offer zero-interest loans for climate projects
Central bank highlights five areas of focus in new climate strategy
Recipe for a chief (fin)tech officer
Private-sector experience, a knowledge of supervision and a zest for innovation are key ingredients for a chief fintech officer
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
The future of forward guidance
BNP Paribas Asset Management explores the current landscape around forward guidance, focusing on how central banks’ methods of communication are likely to evolve in the future. By Richard Barwell
Book notes: Quantitative easing, by Jonathan Ashworth
Well-documented and fairly comprehensive book for anyone, including central bankers, wanting an overview of how monetary policy has evolved in recent decades
The new era of money supply and its impact on policy
The empirical relationship between money and inflation has changed, writes Manmohan Singh, with Apoorv Bhargava and Peter Stella. To understand current policy challenges, we must first understand money creation
BoJ forecasts weaker inflation but stronger growth
Inflation still negative in Japan but likely to inch above zero this year, forecasts suggest
Covid-19 support may have created “zombie firms” – BIS economists
Policy-makers should impose tighter lending standards and reform bankruptcy law, analysts argue
HKMA and BoJ launch new securities settlement framework
New “delivery versus payment link” aims to reduce settlement risk
BoJ must prepare thoroughly for CBDC – Kuroda
Central bank should not rush issuance of CBDC, governor says