Bank of Japan (BoJ)
BoJ’s Nakaso says digital currencies would allow ‘wider access’ to payments
Replacing banknotes with digital currencies would be “extreme”, deputy governor says, but would allow “wider access” to central bank payment infrastructure
BoJ board nominations add to dovish slant
Japan’s government has nominated two economists seen as likely to support further easing, in the place of two frequent dissenters
‘Urgent’ action needed to boost bank profits – BoJ report
Financial system report notes bank profit margins have been squeezed, but says sufficient capital is supporting lending for the time being
BoJ paper sketches ‘vicious circle’ behind productivity traps
“Lacklustre” economic reforms and firms’ unwillingness to innovate may create a “negatively reinforcing” loop, the authors warn
Central banks could intervene on repo market function – BIS study
Markets still in a “state of transition” but some central banks might want to take action to mitigate adverse effects, CGFS report says
BoJ builds on BIS banking statistics
Researchers break down the statistics further, shedding new light on patterns of cross-border banking
BoJ minutes highlight hopeful signs for Japanese economy
Members highlight “more solid” recovery supported by a pick-up in exports and production, although inflation is still sluggish
BoJ working to earthquake-proof its headquarters
Historic building has survived major disasters in the past, but the BoJ now wants to put the 75,000 ton building on “seismic isolation bearings”
Kuroda flags need for better network of emergency forex liquidity
Bank of Japan governor warns network of swap lines among major central banks may not be enough as systemic banks reach into a broader set of regions
Asia needs new growth model – BoJ’s Kuroda
Region can no longer serve as “the workshop of the world” as the trade in goods slows down, says the Bank of Japan governor
BoJ’s Nakaso: inflation on upward path this year
Pressure on wages, rising commodity prices and a turnaround in expectations will drive up prices, deputy says; rejects calls for rate hike
BoJ acts to thwart pressure on yields
Central bank commitment to yield curve control faces first serious test; BoJ launches unlimited purchases to hold yield down
BoJ ups growth forecast after Trump shock
Improvements in overseas economies and yen weakness prompt central bank to revise up its growth forecast, though inflation is largely unchanged; policy remains on hold
Non-banks may amplify risks from policy divergence, Nakaso warns
Non-banks may be less constrained than banks in supplying dollar funding, but it could dry up at the first sign of trouble; the BoJ starts stress testing foreign currency liquidity
Yield curve control has long history – BoJ’s Amamiya
BoJ’s policy of controlling long-run rates is not as unconventional as many critics argue, executive director says
Yen weakness brings relief for Bank of Japan
Policy on hold, but central bank sees brighter outlook for 2017; yen close to lowest level this year, following Trump shock
BoJ and ECB collaborate on distributed ledger tech
The project will examine the possibility of running central bank infrastructure platforms in a DL environment; research will focus on payments and securities settlement
Central banks ‘critical’ in the development of blockchain
Large South African commercial bank examines what a central bank digital currency would look like, coining the phrase “sovereign blockchain”
Bank of Japan to launch new website in time for 2017
New responsive design will include information from the old site displayed in new format; central bank has set second launch date in case of “delays”
BoJ paper designs new measure of trend inflation
Author’s measure reflects the weighted average of an adaptive component and a forward-looking component
BoJ's Nakaso: central banks must keep up with technology
Deputy governor says central banks must adopt new payment technologies to meet demand, though the BoJ is not planning to issue digital currencies at present
BoJ economists seek best escape route from liquidity traps
Some policies are more effective than others, but a combination can generate stronger effects, researchers find
Central banks respond as markets roiled by Trump victory
Mexico hit by large capital outflows, while Swiss and Japanese central banks face large inflows; Federal Reserve likely to come under pressure
BoJ pushes back forecast of 2% inflation
Central bank admits it will take longer than previously expected to hit 2%, as it keeps monetary policy on hold