Japan
Fukui on prospects for future of Japan's economy
In the speech 'Prospects for the Future of Japan's Economy' given on 23 July Toshihiko Fukui of the Bank of Japan said for Japan's economy to resolve the problems it faces and move forward, firms and individuals must become active in seeking new value…
Japan should help guide yuan revaluation policy
This article in the Asahi Shimbun looks at the drive for revaluation of China's yuan, saying it first began in Japan where cheap imports from China are blamed for making domestic deflation worse. Japan needs an effective diplomatic strategy to influence…
BOJ's Muto cites side effects of JGB buying
In the text of a speech published on Friday 25 July, Bank of Japan deputy governor Toshiro Muto said "Buying of 1.2 trillion yen a month represents a significantly high pace", according to a Reuters report. He suggested the policy had had some negative…
BoJ's Fujiwara - Inside a Monetary Policy Meeting
In a speech on 'Inside a Monetary Policy Meeting' Sakuya Fujiwara of the Bank of Japan said transparency of the Bank of Japan's conduct of monetary policy has been enhanced by Monetary Policy Meetings. I attach special importance to increasing the…
Interview with IMF Managing Director Horst Kohler
In an interview on "We Should Not Lose More Time" with Germany's manager magazin, IMF MD Horst Kohler talks about ways out of the world economy crisis. He is also asked if the Americans and the Japanese might be trying to solve their problems by…
Ueda on Japan's deflation and policy response
In a speech on 'Japan's Deflation and Policy Response' Kazuo Ueda of the Bank of Japan said the deflation of general prices has not been the major problem in Japan. Instead, asset price deflation and its interaction with the financial system and the…
BoJ willing to take risks to fight deflation
Giving a lecture in Tokyo on Wednesday 23 July, Bank of Japan governor Toshihiko Fukui signalled a willingness to fight Japan's economic slump made worse by deflation. Associated Press reports that Fukui said the BoJ "is willing to take unlimited risks…
Ueda on credit risk transfers and central banks
In a speech on 'On Credit Risk Transfer Instruments and Central Banks' Kazuo Ueda of the Bank of Japan said the Bank has been massively increasing the supply of liquidity. The monetary base has risen by 50% and bank reserves have quadrupled during the…
Bank of Japan Monthly Report, July 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, July 2003, on 17 July. The Report said business fixed investment is on a gradual recovery and while it reiterated that economic activity remains "virtually flat…
Bank of Japan's Monetary Policy Meeting Minutes
Minutes of the Bank of Japan's Monetary Policy Meeting on 10 and 11 June 2003, released 18 July. One member said that, with still no prospect of overcoming deflation, the Bank should make a credible public commitment to realise an increase in the money…
BOJ's Fukui says stock gains outweigh bond losses
Toshihiko Fukui said the Bank of Japan has no plan to "step in" and manipulate bond yields. Speaking at a monthly press conference he said Japanese banks probably earn more from stock market gains than they lose from lower bond prices, Bloomberg reported.
BoJ's Taya on recent economic developments
In the speech 'Recent Economic Developments and Monetary Policy' Teizo Taya of the Bank of Japan said he was still against the adoption of inflation targeting. Under certain circumstances, it is considered to promote the accountability and effectiveness…
Fukui on challenges for monetary policy in Japan
In the speech 'Challenges for Monetary Policy in Japan' Toshihiko Fukui of the Bank of Japan said neither macroeconomics nor finance textbooks have yet managed to provide a practical solution to the problems related to the deflation with which we are now…
BOJ says economic outlook improved
The Bank of Japan's July monthly report released Wednesday said business fixed investment is on a gradual recovery and while it reiterated that economic activity remains ``virtually flat,'' it said the outlook for exports has improved, Bloomberg reported.
Bo J's money market operation guideline unchanged
At the Monetary Policy Meeting held 15 July, the Bank of Japan decided, by unanimous vote, to set the following, unchanged, guideline for money market operations for the intermeeting period.
BOJ's Taya, Nakahara opposed increasing stock buys
Documents obtained by Reuters on Friday through Japan's freedom of information laws show that Bank of Japan board members Teizo Taya and Shin Nakahara opposed the decision under which the central bank increased the amount of stocks it purchases directly…
Shiokawa says he, Fukui aren't worried about bonds
Speaking in Tokyo Wednesday after a meeting with Bank of Japan Governor Toshihiko Fukui, Finance Minister Masajuro Shiokawa said he agreed with Fukui that there is not much concern that long-term rates have risen a little bit, Bloomberg reported.
BOJ's Fukui affirms vow to keep rates near to zero
Bank of Japan Governor Toshihiko Fukui has said the BOJ will continue to keep interest rates close to zero until consumer prices become positive, Bloomberg reported. The comment comes after bond yields more than doubled since June 11 as hopes for an…
BOJ is watching bond yields 'closely' Suda says
Bank of Japan board member Miyako Suda said in a speech that the BoJ is closely watching the bond market but it will take time to assess the effect of asset prices on the economy, according to a report by Bloomberg.
BoJ Monetary Policy minutes, 19 and 20 May
Minutes of the Bank of Japan's Monetary Policy Meeting on 19 and 20 May 2003, released 30 June. With respect to domestic demand, corporate profits were recovering, and if exports and production resumed their upward trend, business fixed investment was…
Bank of Japan survey shows business sentiment up
The Bank of Japan's "tankan" survey released on Tuesday 1 July suggested that managers in Japan were becoming more optimistic, Associated Press reports, with large companies planning to boost capital expenditure by 4.9 percent this fiscal year.
BoJ's purchases of asset-backed securities
the Bank of Japan has decided to establish Principal Terms and Conditions for the outright purchases of asset-backed securities, 25 June.
Bank of Japan Monetary Policy Meeting
At its monetary policy meeting held on 25 June the Bank of Japan unanimously decided to maintain current guidelines.
BoJ's Muto on challenges facing Japan's economy
In a speech on 'Structural Changes in the World Economy and Challenges Facing Japan's Economy' Toshiro Muto of the Bank of Japan said as of now at least it is hard to say that we are sufficiently equipped, considering the several constraints surrounding…