Japan
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…
Japan's Balance of Payments for 2001
REPORT - In the balance of payments for 2001, the current account surplus registered 11.1 trillion yen, a decline from the surplus of 12.6 trillion yen in 2000. The capital and financial account recorded a net outflow of 7.0 trillion yen, down from a net…
Moody's downgrades Japan by two more notches
JAPAN - Ratings agency Moody's Investors Service has downgraded government bonds issued by Japan - the world's second biggest economy - by two notches to the same status as those from Latvia and Poland.
Speech by Masaru Hayami, Bank of Japan, 30 May
SPEECH - In a speech titled 'The Economy: Recent Developments and Challenges' Hayami said that although the yen weakened last year, since spring "the yen has been rising and the dollar has been falling. People are scaling back their expectations for the…
BOJ's Hayami says forex must be watched closely
JAPAN - Bank of Japan Governor Masaru Hayami said on Thursday he wanted to closely watch moves in the foreign exchange market, adding the recent rise in the yen was due to caution on the U.S. economy and hopes for a recovery in Japan.
Japan entering cyclical rebound: BOJ board member
JAPAN - A Bank of Japan Policy Board member said on Wednesday that Japan's economy was starting to recover but the financial sector posed a risk.
Japan 'to show strong growth'
JAPAN - Recoveries in exports and consumer spending will drive robust growth in Japan's economic output, leading researchers have predicted.
Japan hits out at ratings downgrade
JAPAN - As Japan braced for a possible two notch downgrade to its sovereign credit rating next week, the Ministry of Finance stepped up its war of words with the world's leading rating agencies by restating its belief that they are misguided.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Bank of Japan Monetary Policy Meeting Minutes from the meeting of 10 and 11 April, released 24 May.
Bank of Japan acts to halt yen rise
JAPAN - The Bank of Japan was ordered by the Ministry of Finance to intervene to weaken the yen for the second consecutive day yesterday as part of the government's drive to ensure that the country's fledgling economic recovery is given a chance to get…
BoJ Monthly Report May 2002 - Full Version
REPORT - Full English translation of the Monthly Report of Recent Economic and Financial Developments from the Bank of Japan, May 2002, released 23 May. It says: "The pace of deterioration in Japan's economy has moderated, with production starting to…
BoJ may intervene again as yen continues to rise
JAPAN - The yen drifted higher in Asian trading Thursday, one day after the Bank of Japan intervened in the currency markets to stem the yen's surge. The central bank warns that it may step into the markets again to keep the yen from gaining too much…
Bank of Japan Monthly Report May 2002
REPORT - Monthly Report of Recent Economic and Financial Developments from the Bank of Japan, May 2002, released 22 May.
Latent recovery fails to move Bank of Japan
JAPAN - The Bank of Japan announced a decision to leave monetary policy unchanged after a two-day Policy Board meeting which ended on Tuesday.
Bank of Japan Monetary Policy Meeting
PRESS RELEASE - At the Monetary Policy Meeting held today, 21 May, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period: