Japan
Deflation is a "matter of national choice"
In an article published in the Financial Times Avinash Persaud says attempts by the Japanese to inflate their economy fail because Japan is a nation of creditors.
Japan conducts record FX intervention
May saw the Bank of Japan's largest ever monthly intervention in the foreign exchange markets using Y3,900bn to halt the Yen's rise, the Financial Times reported.
Fukui statement to the House of Representatives
In his statement concerning the Bank's Semiannual Report on Currency and Monetary Control Toshihiko Fukui of the Bank of Japan said the bank believes that the existing economic model, which supported Japan's postwar economic growth, needs to be replaced,…
BoJ Monetary Policy minutes, April 7 & 8
Minutes of the Bank of Japan's Monetary Policy Meeting on 7 and 8 April 2003, released 23 May. The majority of members agreed that it was appropriate to maintain the current stance in the guideline for money market operations, and continue to provide…
Bo J Monthly Report downgrades economy view
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, May 2003, on 22 May. In the report the BOJ downgraded its view on the economy, citing "greater uncertainty" over the outlook. It said that overall conditions…
Olson says deflation possibility very low
Federal Reserve Governor Mark Olson said on Thursday 22 May thatthe Fed will continue to monitor the deflation situation very carefully "because we've seen the way deflation has hampered Japan's recovery".
Japan on brink of crisis, warns central banker
Speaking to parliament on Wednesday 21 May, Bank of Japan governor Toshihiko Fukui said Japan faces a situation where a so-called financial crisis could be triggered at any time, according to a report by Sapa-AFP.
BoJ announces change in money market guidelines
The Bank of Japan on Tuesday 20 May said it will lift its target balance of current accounts held by private financial institutions at the central bank to around 27 to 30 trillion yen ($230 billion-$256 billion) from the previous target of around 22 to…
Fukui says BOJ stance is to act preemptively
The Bank of Japan acted in what was described as a pre-emptive strike on Tuesday May 29, easing monetary policy in a bid to raise its target for banks' excess reserves to around 27-30 trillion yen according to a Reuters report.
Bank of Japan makes legal reserves application
The Bank of Japan applied to the Minister of Finance on 15 May to retain an extra ten-hundredths of its net income, as the legal reserve for Fiscal 2002.
BoJ asks for gov't approval to boost its capital
The Bank of Japan said in a statement on Thursday 15 May that it is seeking government approval to increase the amount of money it sets aside to boost its capital, according to Bloomberg News.
'Mr Yen' suggests new era of deflation
Frmer vice-finance minister of Japan, Eisuke Sakakibara, who is known as Mr Yen, has said he thinks Japan has been unfairly blamed for failing to tackle deflation with conventional monetary policy, according to the Financial Times. He also suggested the…
No honeymoon for Fukui
The world is looking for fresh, decisive policies from the new central bank governor. What can he do? Tomohiko Taniguchi reports from Tokyo.
How Fukui should deal with deflation
In the first of a two-part feature on Japan, Andrew Smithers discusses the economic solutions and political obstructions to reviving the stagnant economy.
IMF sees need for Japan inflation target
A senior adviser at the IMF's research department said Friday that the Bank of Japan needs to create expectations that deflation can be beaten and should consider introducing an inflation targeting policy.
Role of Money Stock in Conducting Monetary Policy
Bank of Japan research paper examining economic and financial developments since the 1990s. This paper discusses (1) the role of he money stock within the Bank of Japan's (the Bank's) monetary policy and (2) why the relationship between the money stock…
Minutes of Japan's Monetary Policy Meeting
Minutes of the Bank of Japan's Monetary Policy Meeting on 25 March 2003, released 6 May. Some members said that a reduction in banks' exposure to risks arising from stock-price volatility would be effective in preventing stock-price falls from negatively…
BOJ minutes show concern over banks stock holdings
Minutes from the Bank of Japan's policy board meeting released Tuesday showed members deliberated the need to help commercial banks reduce stock holdings and cut share-investment losses.
BoJ chief ignores bank share pressure
Speaking on Friday 2 May, Bank of Japan chief Toshihiko Fukui said the central bank cannot take limitless risk, which is a job that only the government can do. His comments, reported by Associated Press, were a response to government pressure to step up…
Japan vice finance minister praises BOJ move
The Bank of Japan's decision to further relax its ultra loose monetary policy gained support from the government on Thursday 1 May,when Vice Finance Minister Masakazu Hayashi said he hoped the move would have a positive effect on the economy, Reuters…
Bank of Japan eases monetary policy
In a surprise move the Bank of Japan eased monetary policy sharply on Wednesday30 April, reports the Financial times. . In a statement the BoJ said the move was seen as appropriate in light of current "uncertainty regarding the economic and financial…
BoJ drawing up plan to bolster capital adequacy
The Bank of Japan is planning to ask the Finance Ministry if it can increase the level of its capital reserves to offset the adverse impact from a growing amount of stocks and other riskier assets, according to the Asahi Shimbun.
Japan's PM says 1-2 % inflation good for economy
Junichiro Koizumi said at the weekend that rises of around one to two per cent annually would benefit the economy and price falls are not "desirable", Reuters reports.
BoJ can increase bank shareholdings
The Bank of Japan could increase its purchase of shares held by Japanese banks as part of its drive to protect them from falling stock prices, says BOJ governor Toshihiko Fukui as reported by Associated Press as