Kuroda at G7 Said Bank of Japan Will Continue with Powerful Easing with CPI Unsustainable

The Bank of Japan chief Kuroda speaking at the G7 said BOJ will patiently continue with powerful easing announcing no change to monetary policy. While the major central banks tighten other than the PBOC Japan has taken a different path. Earlier today Japanese CPI came in with 2.5% headline and 2.1% core prices.  BoJ Chief Kuroda Kuroda did acknowledge the latest CPI but also said that he’s forecast 2% inflation for a while and that it’s not sustainable in Japan … Continue reading “Kuroda at G7 Said Bank of Japan Will Continue with Powerful Easing with CPI Unsustainable”

Soft Consumer Spending Sees Japan’s Q3 GDP Downgraded Further

Japan’s economy shrank 0.9% in the third quarter from the previous quarter, at an annualized pace of 3.0%, the Cabinet Office announced on Monday. This was worse than the previous estimate as the Coronavirus and supply shortage had more of a dampening affect than first thought. Japan Q3 GDP (2nd reading) GDP -0.9% q/q vs -0.8% expected GDP y/y -3.6% vs -3.1% expected (first estimate -3.0%) Private consumption -1.3% vs -1.1% prelim External demand 0.0% vs +0.1% prelim Inflation deflator … Continue reading “Soft Consumer Spending Sees Japan’s Q3 GDP Downgraded Further”

Bank of Japan Monetary Policy Unchanged, Revised CPI and GDP Forecasts Lower As Expected

The Bank of Japan announced no change to monetary policy as widely expected. The BOJ short-term interest target kept at -0.1% and the 10 year JGB yield target remains around 0%. BoJ revised its CPI and GDP forecasts lower.

Bank of Japan Monetary Policy Unchanged as Expected, Details Climate Change Scheme

The Bank of Japan announced no change to monetary policy as widely expected. The BOJ short-term interest target kept at -0.1% and the 10 year JGB yield target remains around 0%. Released details of scheme for combating climate change and made decision on yield curve control

Bank of Japan No Change to Monetary Policy With Short Term Interest Target Kept At -0.1%

The Bank of Japan announced no change to monetary policy as widely expected. The BOJ short-term interest target kept at -0.1% and the 10 year JGB yield target remains around 0%. The ETF buy cap stays at 12tln yen. The bank expects core consumer inflation to hit 0.1% in the current fiscal year.

The Japanese NIKKEI Stock Market Closed Up 16% in 2020 Near 30 Year Highs

Japan’s Blue Chip Nikkei 225 ended the year 16% higher at 27444.17 near 30 year highs. Japanese stocks were boosted by safe haven yen buying and massive BoJ ETF purchases and monetary policy fed optimism surrounding COVID-19 vaccines and unprecedented stimulus measures from global central banks boosting risk sentiment.

Bank of Japan Long Term Yield Target, Increased ETF Buying Policy Changes

The Bank of Japan delivered its Statement on Monetary Policy and made policy changes as rumored, changing the long term yield target, flexible guidance and is maintaing low rates for ‘a very long period of time’ with the aim of a sustainable stimulus..

Bank of Japan Looking at Policy Changes For Inflation and Sustainable Stimulus

The Bank of Japan frustrated with stubborn low inflation is actively looking to revamp policy before it’s July meeting Reuters is reporting sources saying. Changes to its interest-rate targets and stock-buying techniques are on the table with the aim of a sustainable stimulus..

Koruda Gets 5 More Years at Bank of Japan To Get Elusive 2% Inflation

Haruhiko Kuroda was reappointed for another five years as Governor of the Bank of Japan Friday in Japan’s National Diet lower house. Koroda is a sprightly 73 and been in the job since 2013. The move was expected and contunes more of the same for Japan.