Japan
BoJ's purchases of asset-backed securities
the Bank of Japan has decided to establish Principal Terms and Conditions for the outright purchases of asset-backed securities, 25 June.
Bank of Japan Monetary Policy Meeting
At its monetary policy meeting held on 25 June the Bank of Japan unanimously decided to maintain current guidelines.
BoJ's Muto on challenges facing Japan's economy
In a speech on 'Structural Changes in the World Economy and Challenges Facing Japan's Economy' Toshiro Muto of the Bank of Japan said as of now at least it is hard to say that we are sufficiently equipped, considering the several constraints surrounding…
BoJ Monetary Policy minutes, 30 April
Minutes of the Bank of Japan's Monetary Policy Meeting on 30 April 2003, released 16 June. The minutes showed at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation.
Bank of Japan Monthly Report, June 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, June 2003, on 13 June. In the report the BOJ said public investment is projected to follow a declining trend, and private consumption is likely to remain weak…
Japan's support for inflation targeting grows
Minutes of the Bank of Japan's April meeting published on Monday 16 June showed that at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation, according to a report in the Financial…
Fukui speech to Euro 50 Group Roundtable
In his keynote speech to the Euro 50 Group roundtable Toshihiko Fukui of the Bank of Japan said the Bank of Japan stands on the front line of the war against deflation. However, we have used up the greatest weapon in a central bank's arsenal, thus, in…
Bank of Japan Monetary Policy Meeting, 11 June
The Bank of Japan announced unchanged guidelines at the end of its two day meeting on 11 June.
Japan's central bank to buy securities
The Bank of Japan has decided to buy asset-backed securities, according to a Reuters report. Before this it had restricted its purchases to government bonds, which carry less risk than securities. The bank said the scheme could start as early as next…
BOJ's Fukui may detail plan to buy corporate debt
Governor of the Bank of Japan Toshihiko Fukui is likely to spell out this week details of a plan to buy corporate debt to make it easier for companies to borrow, according to Bloomberg News.
More dynamic BOJ sees off media critics
Senior BOJ staff professes themselves pleased with the public relations impact of the more active communications strategy followed since Toshihiko Fukui took over from Hayami-san as governor in March. "Even Yomiuri Shimbun has stopped criticizing us,"…
Kreuger gloomy in Tokyo
IMF deputy managing director, Anne Kreuger brought a gloomy message to Tokyo on June 4. She commented "The outlook is for continued sluggish economic growth and for deflation to remain entrenched. At the same time, a major concern is the rapidly rising…
Bank of Japan subscription to the Asian Bond Fund
The Bank of Japan has decided to subscribe to the Asian Bond Fund offered by the Bank for International Settlements (BIS), 2 June.
Fed's Bernanke on monetary policy in Japan
In a speech on 'Some Thoughts on Monetary Policy in Japan' Ben Bernanke of the Federal Reserve said the US economy does not face an immediate threat of deflation but slowing inflation means the major world economies must remain on guard. On the Japanese…
Deflation is a "matter of national choice"
In an article published in the Financial Times Avinash Persaud says attempts by the Japanese to inflate their economy fail because Japan is a nation of creditors.
Japan conducts record FX intervention
May saw the Bank of Japan's largest ever monthly intervention in the foreign exchange markets using Y3,900bn to halt the Yen's rise, the Financial Times reported.
Fukui statement to the House of Representatives
In his statement concerning the Bank's Semiannual Report on Currency and Monetary Control Toshihiko Fukui of the Bank of Japan said the bank believes that the existing economic model, which supported Japan's postwar economic growth, needs to be replaced,…
BoJ Monetary Policy minutes, April 7 & 8
Minutes of the Bank of Japan's Monetary Policy Meeting on 7 and 8 April 2003, released 23 May. The majority of members agreed that it was appropriate to maintain the current stance in the guideline for money market operations, and continue to provide…
Bo J Monthly Report downgrades economy view
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, May 2003, on 22 May. In the report the BOJ downgraded its view on the economy, citing "greater uncertainty" over the outlook. It said that overall conditions…
Olson says deflation possibility very low
Federal Reserve Governor Mark Olson said on Thursday 22 May thatthe Fed will continue to monitor the deflation situation very carefully "because we've seen the way deflation has hampered Japan's recovery".
Japan on brink of crisis, warns central banker
Speaking to parliament on Wednesday 21 May, Bank of Japan governor Toshihiko Fukui said Japan faces a situation where a so-called financial crisis could be triggered at any time, according to a report by Sapa-AFP.
BoJ announces change in money market guidelines
The Bank of Japan on Tuesday 20 May said it will lift its target balance of current accounts held by private financial institutions at the central bank to around 27 to 30 trillion yen ($230 billion-$256 billion) from the previous target of around 22 to…
Fukui says BOJ stance is to act preemptively
The Bank of Japan acted in what was described as a pre-emptive strike on Tuesday May 29, easing monetary policy in a bid to raise its target for banks' excess reserves to around 27-30 trillion yen according to a Reuters report.
Bank of Japan makes legal reserves application
The Bank of Japan applied to the Minister of Finance on 15 May to retain an extra ten-hundredths of its net income, as the legal reserve for Fiscal 2002.