Japan
Bank of Japan Mar 19 meeting minutes
TOKYO - Key points from minutes issued by the Bank of Japan (BOJ) on May 1 from the meeting of its Policy Board on Mar 19.
Hayami to resign (maybe)
BoJ governor, Masaru Hayami, arriving at the weekend's G7 meeting in Washinton denies reports that he is about to quit.
Economic outlook bleak for Japan
JAPAN - The Bank of Japan has painted a bleak economic picture of weak growth combined with intensifying deflation in its half-yearly report. But a 1.6% rise in retail sales in March from a year earlier provided a ray of hope for new Prime Minister…
BoJ to implement RTGS for foreign cbank JGB sales
JAPAN - The Bank of Japan said it will improve its infrastructure to enable Japanese government bond sales by foreign central banks to be settled under the real-time gross settlement system.
Yen weak vs dollar - ex-MOF Sakakibara-Kyodo
JAPAN - The yen is likely to remain weak against the dollar for the time being, Eisuke Sakakibara, a former vice finance minister for international affairs, said in an interview with Kyodo News this week.
Foreign exchange origins of Japan's economic slump
ARTICLE - Ronald McKinnon from Stanford University and Kenichi Ohno from Tokyo's National Graduate Institute for Policy Studies have written an article on "The Foreign Exchange Origins of Japan's Economic Slump and Low Interest Liquidity Trap". The…
Developments in the Japanese government bond mkt
CENTRAL BANK RESEARCH - The Bank of Japan has published a new reseach paper "Market Participants' Behavior and Pricing Mechanisms in the JGB Markets". In this paper, which is based on interviews with market participants, the authors explore various…
Tokyo denies intention to depreciate yen
JAPAN - The Financial Times reported on Apr 17 that Japanese officials were attempting to deny rumours that Tokyo was trying to boost its flagging economy at the expense of other Asian exporters and the US by weakening the yen.
BOJ considered aggressive easing in Feb-minutes
JAPAN - The Bank of Japan said on Apr 18 its Policy Board members had discussed a much more aggressive monetary easing at a February 28 policy meeting than the small rate cut they actually implemented.
Swiss mon policy during 1970s-lessons for Japan
CENTRAL BANK RESEARCH - Peter Kugler from Basel University and Georg Rich from the Swiss National Bank have published a paper "Monetary Policy Under Low Interest Rates: The Experience of Switzerland in the late 1970s". Using evidence from Switzerland's…
BoJ Hayami unsure about duration of deflation
JAPAN - Bank of Japan Governor Masaru Hayami said on Apr 17, 2001 he could not say how long it would take for the core nationwide consumer price index to rise to near zero percent, which the central bank has set as a condition for changing its current…
BOJ leaves monetary policy unchanged
JAPAN - The Bank of Japan's policy board voted unanimously to keep its current policy unchanged at its first two-day policy board meeting that ended Apr 13, 2001.
Stock mkt performance of the Belgium central bank
ARTICLE - Lawrence Goldberg from the University of Miami and Rezaul Kabir from University of Tilburg have written an article "The Stock Market Performance of the Central Bank of Belgium". The purpose of this paper is to examine the stock market valuation…
World Bank releases gloomy econ outlook for Japan
JAPAN - Japan's economy has reverted to its anaemic state and is now at higher risk of falling into recession in earnest, the World Bank said in a report on the global economy released Apr 10.
Ex-central bank official to lead Ito-Yokado bank
JAPAN - Ito-Yokado Co Ltd, Japan's biggest retail group, said on Apr 10 it would appoint central bank veteran Takashi Anzai, 59, as president of its new IY Bank.
BOJ Hayami says economy to remain stagnant
JAPAN - Bank of Japan Governor Masaru Hayami reiterated on Apr 9, 2001 Japan's economy could remain stagnant for some time and that the central bank must pay close attention to downward pressure on prices due to weak demand.
Asian countries agree currency swap network
ASIA - Asia's leading governments have put the finishing touches to plans for a network of currency swap arrangements to guard against a repeat of the 1997 regional economic crisis as concerns of a new global slowdown grow.
Japan MOF's Kuroda -will act if FX trends continue
JAPAN - Top financial diplomat Haruhiko Kuroda said on Apr 6 that Japan would take action in currency markets if current trends continued.
BoJ new board member against targeting exch rate
JAPAN - The newest member of the Bank of Japan's Policy Board said on Apr 2, 2001 she was neither a monetary policy hawk nor a dove, but questioned whether orthodox policy could loosen deflation's debilitating grip on the economy.
Hayami justifies radical monetary easing in March
JAPAN - Bank of Japan Governor Masaru Hayami on Mar 30, 2001 raised the spectre of weak demand tipping the world's second-largest economy into a destructive deflationary spiral.
Operational risk measurement- BOJ papers
CENTRAL BANK RESEARCH - The Bank of Japan's financial and payment system office has published a series of working papers on operational risk that have now been revised and improved following comments from readers.
Q&A: New procedures for BoJ money mkt operations
ARTICLE - The Bank of Japan has published a short question and answer article about its new procedures for money market operations which started on Mar 19, 2001. It says that although the procedures are intended to produce the same effects as the "Zero…
Hayami-BoJ to increase JGB outright buys if needed
Bank of Japan Governor Masaru Hayami reiterated Mar 22, 2001 that the central bank will increase its outright purchases of government bonds only when needed.
BoJ must compensate vicitm of sexual harrassment
A Japanese court has fined the BoJ $55K for failing to protect a female staff member from sexul harassement by a former manager at the bank.