Japan
BoJ sticks to upbeat message despite dissent
Policy remains on hold as inflation continues to disappoint; Kataoka questions positive message
What next for the BoJ’s unprecedented ETF experiment?
No other central bank has attempted such purchases, and exiting the policy may prove extremely challenging, says Sayuri Shirai
Kuroda says controls on high-frequency trading ‘critical’
HFT can aid market efficiency, but action is needed to tackle its downside, says BoJ governor
BoJ sets out goals for interest rate benchmark reform
Working committee aims to publish deliberations in March 2019
A mere tweak or a step toward normalisation?
Sayuri Shirai says the BoJ has controlled market expectations while still opening the door to normalisation
BIS paper links Japan’s household debt to consumption behaviour
The researcher examines how Japanese household debt affects marginal propensity to consume
BoJ unveils more flexible monetary policy framework
No rate change until at least 2019, the BoJ says in new forward guidance
A real-time payments revolution in Asia
Asian central banks have encouraged the development of instant payment systems to defend monetary policy transmission and counter cryptocurrency usage
BoJ may tweak policy at next meeting – local media
Speculation comes as Japanese central bank intervenes in bond market for first time since February
BoJ looks set to cut its inflation forecast – again
There is no exit in sight for the Bank of Japan as inflation is likely to disappoint yet again, warns Sayuri Shirai
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target
Leading governors analyse evolving inflation-employment relationship
Powell, Draghi, Lowe and Kuroda assess causes keeping wage growth low across the world
BoJ cuts inflation estimate as it holds rates
Goshi Kataoka is sole MPC member to call for looser policy
BoJ’s bond purchases impact credit spreads – paper
The BoJ’s corporate bond holdings have reached $29 billion, or about 0.6% of GDP
BoJ drops timeframe for achieving inflation target
Bank has postponed target for achieving 2% inflation six times since 2013
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
People: Bank of Russia appoints new Moscow chief
Senior appointment at Bank of Russia; Uzbekistan picks new deputy; Bank of Japan gains new head of international affairs; Eiopa shuffles board
High-frequency data helps capture ‘psychological subtlety’ – BoJ paper
Study of “tick-by-tick” data finds markets have become more sensitive to the central bank’s policy announcements
DLT offers new possibilities for securities settlement, says ECB and BoJ team
Second phase of ‘Project Stella’ looks at delivery versus payment on three DLT platforms
BoJ policymakers eye hopeful signs for inflation
Policy remains on hold as inflation shows some signs of greater strength; one member calls for further easing measures
Book notes: How global currencies work, by Barry Eichengreen, Arnaud Mehl and Livia Chiţu
A comprehensive introduction to the history of global reserve currencies, with analysis of how advances in technology and the structure of trade have reshaped the landscape
Remembering Charles Freeland
Charles Freeland, former deputy secretary-general of the Basel Committee and friend of Central Banking, died in 2017
People: Nominations to BoJ; Moghalu mulls presidential bid
Kuroda nominated for fresh term alongside two deputies; former CBN deputy considers bid for Nigerian presidency; Riksbank deputy reappointed
BoJ’s Kuroda in line for second term
Haruhiko Kuroda looks set to be the first governor to be reappointed in over 50 years, but the choice of deputies is unclear