Japan
BoJ downgrades economic outlook as regional growth disappoints
Haruhiko Kuroda remains positive and says robust domestic demand could offset some of the weaknesses in exports
Fed’s rate pause puts pressure on BoJ
Fed’s dovishness could pull JGB yields lower and put upward pressure on the yen
Kuroda warns of more QE if yen continues to strengthen
But Bank of Japan continues to cut purchases of Japanese government bonds
BoJ minutes show disagreement over outlook
Not all members agree on how low 10-year yields should be
BoJ cuts inflation forecast in fourth consecutive outlook report
Central bank maintains interest rates and yield curve control
BoJ must normalise policy to cope with ageing population – former official
Japanese firms face labour shortages and limited ability to raise prices- Shirai
BoE’s leveraged loan research draws interest from overseas
UK exposures are modest but firms in US and Japan have bigger holdings of CLOs, which carry echoes of the subprime mortgage crisis
Individual bank diversification can increase systemic risk, researchers find
Banks that are not systemically important can be ‘systemic as a herd’, authors say
Kuroda defends BoJ’s asset purchases
Central bank could face problems when it unloads ETFs, former senior official warns
BoJ’s monetary easing criticised as balance sheet passes 100% of GDP
Central bank’s QQE has had limited impact but a wind-down poses significant risks, Sayuri Shirai warns
Japan does not need more large-scale stimulus to avoid deflation – Kuroda
Below-target inflation still requires ultra-low interest rates and asset purchases
Bank of Japan on hold as inflation slips
The central bank keeps negative rates despite warning about the policy’s risks
Sino-Japanese political optics right for $30bn swap and Tokyo RMB clearing
BoJ and PBoC agree local currency swap line after long delay; Bank of China set to be RMB clearer in Tokyo
BoJ sticks to upbeat message despite dissent
Policy remains on hold as inflation continues to disappoint; Kataoka questions positive message
What next for the BoJ’s unprecedented ETF experiment?
No other central bank has attempted such purchases, and exiting the policy may prove extremely challenging, says Sayuri Shirai
Kuroda says controls on high-frequency trading ‘critical’
HFT can aid market efficiency, but action is needed to tackle its downside, says BoJ governor
BoJ sets out goals for interest rate benchmark reform
Working committee aims to publish deliberations in March 2019
A mere tweak or a step toward normalisation?
Sayuri Shirai says the BoJ has controlled market expectations while still opening the door to normalisation
BIS paper links Japan’s household debt to consumption behaviour
The researcher examines how Japanese household debt affects marginal propensity to consume
BoJ unveils more flexible monetary policy framework
No rate change until at least 2019, the BoJ says in new forward guidance
A real-time payments revolution in Asia
Asian central banks have encouraged the development of instant payment systems to defend monetary policy transmission and counter cryptocurrency usage
BoJ may tweak policy at next meeting – local media
Speculation comes as Japanese central bank intervenes in bond market for first time since February
BoJ looks set to cut its inflation forecast – again
There is no exit in sight for the Bank of Japan as inflation is likely to disappoint yet again, warns Sayuri Shirai
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target