Additional comments flowing in from the Bank of Japan (BOJ) board member Hitoshi Suzuki, as he continues to speak on the central bank’s monetary policy outlook. BOJ won't intentionally create volatility in bond market. Somewhat disappointed bond yields aren't moving much after BOJ’s March review.
BOJ announces no change to its monetary policy
Bank of Japan last movements on coronavirus countering
Early Wednesday in Asia, Reuters quoted Japan’s senior ruling party lawmaker Kozo Yamamoto to confirm extra budget, up for publishing in October or November, as well as an extra push to the Bank of Japan (BOJ) towards policies driving the Japanese yen (JPY) weaker.
Bank of Japan (BOJ) Governor Haruhiko said on Monday that each recession has different characteristics and noted that the difference in the severity of the downturn among industries, business types and occupations has been dramatic this time, per Reuters.
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April BOJ meeting review
The Bank of Japan (BOJ) left its monetary policy settings untouched following the conclusion of its two-day April monetary policy review meeting on Tuesday. The central bank kept the benchmark policy rate on hold at -10bps while maintaining its pledge to buy J-REITS at an annual pace of up to JPY180 bln.
Following are the key highlights from the BOJ’s quarterly outlook report, published alongside the monetary policy statement on Tuesday. "Expect financial intermediation to play out smoothly under financial system stability."
USD/JPY trims intraday gains following the BOJ inaction. BOJ conveys economic uncertainty in the quarterly report. Market sentiment dwindles amid covid, stimulus chatters ...
What is the BOJ?
The Bank of Japan (BoJ) is the central bank of Japan. It is a juridical person established based on the Bank of Japan Act (hereafter the Act), and is not a government agency or a private corporation.
POLICY BOARD. The Policy Board is established as the Bank's highest decision-making body. The Board determines the guideline for currency and monetary control, sets the basic principles for carrying out the Bank's operations, and oversees the fulfillment of the duties of the Bank's officers, excluding Auditors and Counsellors.
HISTORY. The Bank of Japan was established under the Bank of Japan Act (promulgated in June 1882) and began operating on October 10, 1882, as the nation's central bank. The Bank was reorganized on May 1, 1942 in conformity with the Bank of Japan Act (hereafter the Act of 1942), promulgated in February 1942. The Act of 1942 strongly reflected the wartime situation: for example, Article 1 stated the objectives of the Bank as "the regulation of the currency, control and facilitation of credit and finance, and the maintenance and fostering of the credit system, pursuant to national policy, in order that the general economic activities of the nation might adequately be enhanced." The Act of 1942 was amended several times after World War II. Such amendments included the establishment of the Policy Board as the Bank's highest decision-making body in June 1949. The Act of 1942 was revised completely in June 1997 under the two principles of "independence" and "transparency." The revised act (the Act) came into effect on April 1, 1998.
Who is BOJ's president?
Haruhiko Kuroda was born in Omuta, in 1944. He is the 31st and current Governor of the Bank of Japan (BOJ). He was formerly the President of the Asian Development Bank from 1 February 2005 to 18 March 2013.
Kuroda has been an advocate of looser monetary policy in Japan. His February 2013 nomination by the incoming government of the Prime Minister Shinzō Abe had been expected. Also nominated at the same time were Kikuo Iwata – "a harsh critic of past BOJ policies" – and Hiroshi Nakaso, a senior BOJ official in charge of international affairs, as Kuroda's two deputies. The former governor, Masaaki Shirakawa, left in March 2013
Kuroda on his Wikipedia's profile
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the world interest rates table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.