Japan
Bank of Japan Monthly Report, July 2002
REPORT - On 18 July the Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, July 2002. In the report the BOJ says that Japan's economy, despite continued weakness in domestic demand, has almost stabilized as a whole…
Bank of Japan Press Release
PRESS RELEASE - At the Monetary Policy Meeting held today, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period, 16 July.
BOJ keeps monetary policy unchanged
JAPAN - Japan's central bank left its monetary policy unchanged Tuesday to keep plenty of cash flowing in the financial system and help the nation's fledgling recovery.
Postal body gets BOJ online clearance
JAPAN - The public corporation that will replace the state-run postal services next April in Japan will be able to settle accounts with private banks in real time, officials said over the weekend. By gaining access to the Bank of Japan's transaction…
Change at Japanese regulator welcomed by reformers
JAPAN - The Japanese government on Thursday named Shokichi Takagi as head of the Financial Services Agency - a surprise move that raised hopes of a more radical approach by the supervisory body to the bad debt problem plaguing Japanese banks.
Speech by Yutaka Yamaguchi, Bank of Japan, 3 July
SPEECH - In a speech titled 'Central Banking in Uncharted Territory' Yamaguchi said that "the US dollar reached its peak in January and has been depreciating significantly since then. Such a forex rate movement reflects these changes in global capital…
Confidence boosted as Japan shows recovery signs
JAPAN - Japan's export-led economic recovery fuelled a record improvement in sentiment among large manufacturers in a survey of business confidence. However the survey also highlighted the risk to Japan's economic health from the yen's recent rise…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Bank of Japan Monetary Policy Meeting Minutes from the meeting of 20 and 21 May, released 1 July.
Speech by Masaru Hayami, Bank of Japan, 1 July
SPEECH - In his opening speech to the Tenth International Conference held by the Institute for Monetary and Economic Studies, Hayami said he was convinced that with experts from all over the world exchanging their experiences and views, the conference…
Japan's experience should warn central banks
LETTER - Letter published in the London Financial Times on 27 June from William Smyth.
Intervention pushes dollar back above 120
UK - The dollar surged back over 120 against the yen on Friday and made headway against the euro after Japan's finance ministry confirmed it had asked other central banks to intervene on its behalf to help weaken the Japanese currency.
Bank of Japan monetary policy decision
PRESS RELEASE - At the Monetary Policy Meeting held today, the Bank of Japan decided, by unanimous vote, to leave the guideline for money market operations for the intermeeting period unchanged.
BOJ intervenes again to defend tumbling dollar
JAPAN - The Bank of Japan intervened three times overnight to bolster the dollar, spending an estimated $5 billion. This intervention, its sixth daily dollar-buying move since late May and the second this week, was in reaction to the dollar's decline…
BOJ intervenes to shore up dollar
JAPAN - The Bank of Japan stepped into the foreign exchange market Monday to shore up the dollar, which at one point rose by more than 1 yen to 122.80. The dollar later returned to the 121 yen level, as the invervention was seen as relatively modest. The…
Is it too early to call an end to deflation?
ARTICLE - Prices have stopped falling and the balance of Bank of Japan banknotes circulating in the market is on a sharp rise. So is it too early to worry about the possibility of inflation asks the Yomiuri Shimbun newspaper on Monday.
Bank of Japan Working Paper 02-4
RESEARCH - The Bank of Japan has published a paper on 'Deposit Money Creation in Search Equilibrium' by Keiichiro Kobayashi in which the endogenous creation of bank credit and deposit money is modeled. The Central Limit Theorem implies that the…
Bank of Japan Working Paper 02-E-2
RESEARCH - The Bank of Japan's Financial Markets Department has produced research on 'Market Microstructure and Spread Pattern in the JASDAQ Market'. It examines empirical analyses of spread patterns for stocks listed on JASDAQ in order to ascertain the…
Minutes of BOJ monetary policy meeting, 30 April
MINUTES - Bank of Japan has released the minutes of the Monetary Policy Meetingon April 30 2002. The vote was unanimous.
Japan's recession is coming to an end says Hayami
JAPAN - Bank of Japan governor Masaru Hayami said on Friday that the recession which started 20 months ago is coming to an end, adding that he was watching the impact of strong exports and output on the country's non-manufacturers and households.
Bank of Japan Monthly Report, June 2002
REPORT - The Bank of Japan has published its Monthly Report of Recent Economic and Financial Developments for June 2002. The full English translation will be available on June 14.
BoJ keeps monetary policy unchanged
JAPAN - Japan's central bank left its monetary policy unchanged Wednesday, sticking to its stance of freeing up cash to circulate through the financial system, reports Dow Jones.
Buying back long-dated bonds way forward for Japan
LETTER - Letter by Professor Tim Congdon published in the Financial Times on 10 June in response to an editorial by Sir Samuel Brittan, which in turn had commented on Prof Congdon's original article in Central Banking journal, 'What is to be done about…
Japan enjoys strongest growth for two years
TOKYO - Japan's economy has at last emerged from recession, enjoying its strongest growth for two years. The economy has rebounded from three straight quarters of contraction, growing 1.4% in the first quarter, which is an annualised rate of 5.7%.
Japanese financial institutions' management tasks
RESEARCH - The Bank of Japan's Bank Examination and Surveillance Department has issued a report on 'Japanese Financial Institutions' Efforts to Address Their Management Tasks'. It outlines the current state of financial institutions' business and how…