Japan
Fukui, local BOJ chiefs voice concern over yen
Bank of Japan Governor Toshihiko Fukui said on Monday October 20 that the central bank will closely watch developments in overseas economies and financial markets, The Japan Times reports. Fukui also said the BOJ is firmly committed to maintaining its…
Japan's economy minister: how to end deflation
Economy minister Heizo Takenaka has said that Japan's deflation could be overcome if the Bank of Japan can increase money supply growth and the government were able to increase demand through deregulation and clean up the banking system, according to the…
Bank of Japan Monthly Report, October 2003
The Bank of Japan published the English version of its Monthly Report of Recent Economic and Financial Developments, October 2003, on 17 October. The foundation for a gradual recovery in Japan's economy is being laid, as the environment for exports and…
Bank of Japan upgrades October assessment
The Bank of Japan raised its assessment of the economy for the second month running Tuesday but warned that a too strong yen could hurt exports, according to Associated Press. "The foundation for a gradual recovery in Japan's economy is being laid, as…
BOJ's Hirano sees good chance of recovery lasting
Bank of Japan Assistant Governor Eiji Hirano said on Monday 13 October at a summit meeting in in Singapore that there is a greater chance that recovery can be sustained this time compared to the past two cases. However, he acknowledged that risks of a…
Deflation, markets remain risks for Japan-Takenaka
Japanese Economics and Finance Minister Heizo Takenaka said on Sunday 12 October that the purpose of foreign exchange intervention was mostly to smooth out yen volatility, according to a report by Reuters. While the economy is recovering it remains…
Japan shows quantitative easing works- Fed's Poole
St Louis Fed president William Poole said in the latest edition of the Regional Economist publication, reported by Reuters, that "Japan showed us that a central bank has more than one tool to work with", although many thought Japan had run out of…
Bank of Japan eases monetary policy
The Bank of Japan voted to ease monetary policy slightly on Friday 10 October. according to a report by CNN Money. In an unexpected move the BoJ raised the ceiling of its account balance target by two trillion yen ( $18.33 billion ) to a range of 27…
BOJ's Iwata repeats price stability target call
Bank of Japan Deputy Governor Kazumasa Iwata said Wednesday "I think a rise in the CPI of around 1-2 percent would mean prices have stabilised", Reuters reported. Iwata's proposals have been rejected by the other eight members of the BOJ's Policy Board,…
Fukui sees lights of hope for the Japanese economy
In a speech to the National Securities Industry Convention given on 18 September, Toshihiko Fukui of the Bank of Japan said the Japanese economy as well as the financial system is still burdened with a number of difficulties. Nevertheless, lights of hope…
Bank of Japan - Annual Review 2003
The Bank of Japan has published its Annual Review 2003. In the foreword to the Review Governor Toshihiko Fukui said the Bank will continue to do its utmost to meet the challenges currently facing the economy and to secure its future economic prospects…
BoJ's Muto on the Battle against Deflation
In the speech 'Battle against Deflation' given on 26 September Toshiro Muto of the Bank of Japan said exchange rate stability remains an important goal for Japan, in the wake of the G7 statement. He added that Japan was ready to act in the event of…
ECB: 'No comment' on Japan's MOF selling yen
A spokesman for the European Central Bank declined to comment on Japan's Ministry of Finance statement that it had sold yen heavily in the foreign exchange markets on Tuesday 30 September, according to Reuters.
Fukui at the 2003 World Bank-IMF Annual Meeting
In a speech to the 2003 World Bank-IMF Annual Meeting given on 23 September Toshihiko Fukui of the Bank of Japan said that more than six years have passed since the outbreak of the Asian financial crisis. He welcomed the progress that the World Bank and…
Japan's c bank chief pledges to beat deflation
Speaking at a joint discussion at the World Bank and the International Monetary Fund annual meetings Tuesday Bank of Japan governor Toshihiko Fukui said, according to China View "The BOJ is firmly committed to maintaining its current policy stance, until…
BOJ's Fukui speech to IMFC on Japan's economy
Toshihiko Fukui, Governor of the Bank of Japan, speaks to the International Monetary and Financial Committee on the Japanese economy (he reiterated that "The BoJ is firmly committed to maintaining its current policy stance until the consumer price index…
Bank of Japan's Monetary Policy Meeting Minutes
Minutes of the Bank of Japan's Monetary Policy Meeting on 7 and 8 August 2003, released 18 September. On the outlook for Japan's economy, members agreed that the standard scenario remained valid: the uptrend in exports and production would resume…
Bank of Japan Monthly Report, September 2003
The Bank of Japan published the English version of its Monthly Report of Recent Economic and Financial Developments, September 2003, on 17 September. "Turning to the economic outlook, with respect to overseas economies, the likelihood is gradually…
Bank of Japan upgrades view of economy
The Bank of Japan raised its assessment of the Japanese economy in its September monthly report, published on September 16. According to Associated Press, the report said that "Economic activity still continues to be virtually flat as a whole although…
Bank of Japan leaves monetary policy unchanged
The Bank of Japan said on Friday 12 September at the end of its two-day meeting that it would leave monetary policy unchanged,according to AFX-ASIA. The BoJ said in a three-paragraph statement that the central bank will "conduct money market operations,…
BOJ governor Fukui to visit China in October
Bank of Japan governor Toshihiko Fukui will visit China in October and meet with the governor of the People's Bank of China, according to a report by Reuters. Fukui is likely to exchange opinions with Chinese officials on the yuan currency.
Fukui on the situation of the Japanese economy
In a speech on the current situation of the Japanese economy given on 3 September Toshihiko Fukui of the Bank of Japan said a number of developments indicate that the Japanese economy is moving in a desirable direction, even though it continues to face…
Fukui says no quick end to BOJ easing policy
Bank of Japan governor Toshihiko Fukui on Wednesday sought to calm the bond market, Reuters reported, saying "You can rest assured that the ultra-loose policy will stay in place as long as the CPI (consumer price index) is falling or only showing weak…
Bank of Japan intervenes in money markets
The Bank of Japan has intervened in the money markets in the last two days, according to Reuters, in an apparent move to halt the increase in interest rates by spending Y2,000bn buying nine month bills from commercial banks.