Yen
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
Time to worry about Japanese debt?
The transition to positive rates means Japan may need to re-examine its huge public debt burden, argues Sayuri Shirai
Yen rates losses from tariff drama top $1 billion
Losses came from forced unwinds of bets on BoJ rate rises
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
BIS says carry trade unwind is part of broader pattern
Multi-strategy hedge funds drive spillovers across asset classes, analysis finds
Triggers of August market ‘flare-up’ still in place, BIS warns
Leveraged positions remain at risk of sudden unwinding, as margin calls play amplifying role
Book notes: Easy money, cryptocurrency, casino capitalism, and the golden age of fraud, Ben McKenzie with Jacob Silverman
Casts light on how shady crypto characters defraud consumers but does little to identify and control such fraudsters while protecting the public
Japan issues first new banknotes in 20 years
New notes are fitted with 3D holograms
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
Japan ready to intervene in FX markets, finance ministry says
Top currency official issues warning as yen hits 34-year low against dollar
BoJ hawkishness due to weak yen belies wage inflation concerns
The contrast in Japan-US economic, price and wage performance and their implications for monetary policies
Getting Chiang Mai right
Asia’s emergency infrastructure is on the right track, but there is still room for improvement
Sharp yen rises spark speculation over government intervention
Japanese minister refuses to comment on whether authorities acted to stem currency’s fall
The BoJ’s possible path to positive rates
Are market expectations about a spring shift from negative Japanese rates credible, asks Sayuri Shirai
Bank of Japan steps up bond purchases
Central bank faces pressure to raise rates as yields on 10-year government bonds rise
BoJ keeps negative rates unchanged
Ueda says more time is needed to assess whether rising wages are supporting inflation
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Japan’s finance minister mulls purchase of BoJ’s ETF holdings
Analysts believe asset purchase programme is to stay for the time being
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
Bank of Japan to start CBDC pilot in April
Central bank presses ahead with designing a general purpose CBDC
Can new BoJ governor Ueda maintain his neutral position?
Kazuo Ueda will face divided views on monetary easing and its growing side-effects when he takes office, writes Sayuri Shirai