Bank of Japan

Bank of Japan keeps rates on hold, says economy starting to recover

Japan’s central bank is sticking with its prediction that core consumer inflation will accelerate to close to 2 per cent in the business year to March 2016. Photo: Reuters

The central bank made no major changes to its forecast that consumer inflation will accelerate to nearly 2 per cent by March 2016, a key target for Prime Minister Shinzo Abe's drive to reflate the economy.

Friday, 12 July, 2013, 3:38am

BOJ split on measures to stabilise bond market

The BOJ board opens its meeting on Monday. Photo: Bloomberg

The Bank of Japan is divided over whether to authorise a measure designed to quell bond-market volatility, with some officials concerned it would return the BOJ to a pattern of incremental steps that failed in the past, say people familiar with the discussions.

7 Jun 2013 - 3:46am

BOJ members divided over ambitious stimulus plan

The Bank of Japan building in Tokyo. Signs show a rift among the nine-member board. Photo: Reuters

The minutes of the Bank of Japan's April 26 meeting showed a rift developing within the board over its ambitious stimulus plan, as a few policymakers opposed targeting 2 per cent inflation in two years and called for more flexibility in guiding monetary policy.

28 May 2013 - 4:50am

No cutting the slack

The Bank of Japan last month began its programme to flood the markets with US$1.4 trillion in cash to reflate a limp economy. Photo: Reuters

The Bank of Japan may end up pursuing its massive monetary easing for up to five years before achieving inflation levels conducive to unwinding its aggressive stimulus, a poll of central bank watchers suggests.

23 May 2013 - 4:27am

Bank of Japan redoubles commitment to easing

Bank of Japan headquarters in Tokyo. Photo: Reuters

The Bank of Japan put on a show of resolve about its ambitious plan to boost the country's money supply at a policy meeting yesterday, as economists had expected, hours after a report highlighted deflation's grip on the economy.

27 Apr 2013 - 4:23am

Yen weakens as G20 applauds BOJ stimulus moves

Haruhiko Kuroda. Photo: Bloomberg

The yen weakened to nearly 100 per US dollar for the first time since April 2009, after the Group of 20 offered no opposition to the Bank of Japan's monetary stimulus policies.

23 Apr 2013 - 4:45am

Timing the key in Japan's massive gamble to revive the economy

Shinzo Abe, Japan's prime minister. Photo: Bloomberg

After two "lost decades", Japan has begun a risky monetary gamble. Abenomics has the potential to make or break Japanese savings, the Asian century and global recovery.

22 Apr 2013 - 1:58am

Abenomics' samurai spirit

Shinzo Abe and Haruhiko Kuroda. Photo: AFP, EPA

Like many a guest arriving late at a drinks function, there's a natural inclination to make up for lost time. And so it is with the Bank of Japan, which joined the global reflation party in early April, with plans to unleash a torrent of liquidity designed to wash away decades of economic underperformance.

15 Apr 2013 - 3:11am

BOJ mulls symbolic lift in price forecast

Bank of Japan Governor Haruhiko Kuroda. Photo: Xinhua

The Bank of Japan is considering boosting its consumer price outlook to signal confidence it will meet a pledge to achieve 2 per cent inflation in two years, people familiar with the central bank's discussions have said.

13 Apr 2013 - 6:26am

Monetary easing the wrong cure for Japan's deflation

Bank of Japan's aggressive move will spur speculation and risk the yen's collapse. Photo: Reuters

The Bank of Japan shocked the market with its aggressive bond-buying programme aimed at achieving 2 per cent inflation in two years.

10 Apr 2013 - 3:20am

'Jury is still out' on BOJ's big easing plan

The Bank of Japan's balance sheet expansion plans are modest compared with those in the US and Britain. Photo: Reuters

Bank of Japan governor Haruhiko Kuroda's aggressive easing plan came as pleasant surprise to the market but it is still early to say if it will succeed, according to Standard & Poor's chief global economist Paul Sheard.

9 Apr 2013 - 7:01am

Shinzo Abe's monetary stimulus risks inflaming regional tensions

Japanese Prime Minister Shinzo Abe. Photo: Xinhua

Reaction to the Japanese central bank's stunning monetary stimulus - doubling the size of money in circulation in two years - ranges from "brave" to "irresponsible". It is a bold attempt to jolt Japan out of two lost decades of stagnation and deflation. But it comes with risks that have aroused grave misgivings.

8 Apr 2013 - 2:04am

China's fury at Bank of Japan 'blackmail' makes zero sense

Back into line

According to the story on the front page of Saturday's South China Morning Post a host of mainland economic bigwigs led by former People's Bank of China monetary policy committee member Li Daokui are "livid" at what they see as the BoJ's efforts to devalue the yen.

8 Apr 2013 - 3:17am 4 comments

Bringing out the big guns

Bank of Japan governor Haruhiko Kuroda is spearheading a sweeping shift in Japan's monetary policy to spur inflation. Photo: AP

Haruhiko Kuroda followed in the footsteps of Ben Bernanke and Mario Draghi on Thursday as he swung the Bank of Japan from incremental moves to unprecedented stimulus in his first policy meeting as governor.

6 Apr 2013 - 4:36am

Kuroda begins 'fast and furious' easing

Japan has suffered years of economic stagnation and deflation, which the new government has pledged to bring to an end. Photo: Reuters

Bank of Japan governor Haruhiko Kuroda began his onslaught to end two decades of economic stagnation and 15 years of deflation as the central bank pledged unprecedented easing, driving the yen down by the most since October 2011.

5 Apr 2013 - 5:52am