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Prosecutors search offices of LDP factions mired in funds scandal
Prosecutors on Tuesday searched the offices of two major ruling Liberal Democratic Party factions over a political fundraising scandal, in a further blow to Prime Minister Fumio Kishida's administration. The Tokyo District Public Prosecutors Office's special investigation squad started searches of the biggest LDP faction, once led by the late Prime Minister Shinzo Abe, and another led by former LDP Secretary General Toshihiro Nikai. They are seeking to build cases against accountants working for the factions, deeming they failed to declare on behalf of the groups hundreds of millions of yen in fundraising party ... (full story)
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At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided upon the following. (1) Yield curve control a) The Bank decided, by a unanimous vote, to set the following guideline for market operations for the intermeeting period. The short-term policy interest rate: The Bank will apply a negative interest rate of minus 0.1 percent to the Policy-Rate Balances in current accounts held by financial institutions at the Bank. The long-term interest rate: The Bank will purchase a necessary amount of Japanese government bonds (JGBs) without setting an upper limit so that 10-year JGB yields will remain at around zero percent. post: BoJ Voted Unanimously On Policy Rate - To Keep Easing Patiently For Price Goal With Wage Gains - Will Add To Easing Without Hesitation If Needed - Y/Y CPI Rise Likely To Be Above 2% Through FY2024 - Underlying CPI Likely To Gradually Rise - Economy Likely To Continue Recovering…Bank of Japan sticks to ultra-easy monetary policy in light of ‘high uncertainties’ The Bank of Japan left its ultra-loose monetary policy unchanged at its final policy meeting this year in light of “high uncertainties” in the world’s third-largest economy, saying that core inflation will stay above 2% throughout fiscal 2024. The BOJ decided unanimously that it would keep interest rates at -0.1%, while also sticking to its yield curve policy that references the 1% upper bound for 10-year Japanese government bonds as its limit. Bank of Japan’s possible moves to unwind its super easy monetary policy are being challenged by a slowing economy and cooling inflation. Most economists expect Governor Kazuo Ueda to only make changes next year, particularly after the annual spring wage negotiations confirm a trend of meaningful wage increases, which the BOJ believes is crucial to achieve sustainable inflation by boosting consumption. Comments from Ueda earlier in December stoked expectation of a change in monetary policy, sparking a rally in the yen. The BOJ has been cautious in unwinding its long-held ultra-loose monetary policy, wary that any premature move could jeopardize recent nascent improvements. It has “patiently continued” with its superBOJ stands pat amid expectations for policy normalization The Bank of Japan on Tuesday kept its key policy levers unchanged as expectations grow that it will end its negative rate policy amid sustained inflationary pressure. In its policy statement released after a two-day board meeting, the BOJ kept a line indicating its easing bias. The statement also kept an inflation overshooting commitment, which obliges the BOJ to "continue expanding the monetary base until the year-on-year rate of increase in observed CPI exceeds 2% and stays above the target in a stable manner." Short-term rates will be guided to minus 0.1% as before, while the 10-year Japanese government bond (JGB) will be guided with an upper limit of 1.0% as a reference point -- matching what the BOJ decided in October. The policy, known as yield curve control, has been in place since 2016. The unchanged decision was widely anticipated. All but one of 28 economists surveyed by Nikkei QUICK News between Dec. 1 and Dec. 6 expected no change. The decision comes as consumer inflation has spread from food and energy to services -- the latter including hotel prices, mobile phone usage fees and apartment rents -- raising the prospect of sustained inflation. The meeting came after the U.S. Federal Reserve on Wednesday signaled an end to its most aggressive monetary tightening in fo
USDJPY bounced to 142.60 ahead of the Bank of Japan's monetary policy decisions. The BoJ is expected to maintain current policies, and traders await signals if there will ...
Asian shares and the yen steadied early on Tuesday as traders' focus turned on Japan's central bank and whether it might edge further away from its ultra-easy monetary policy, ...
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The yen fell broadly on Tuesday after the Bank of Japan (BOJ) kept its ultra-loose monetary policy unchanged and maintained its forward guidance in a closely awaited decision. The ...
The unemployment rate rose to 3.9% in November, but the labour market remains very strong with jobs growth broadly keeping pace with the very strong population growth. Employment ...
Business confidence rose 2 points to +33 in December. Expected own activity rose 3 points to +29. The vast majority of indicators lifted, including the backward-looking measures. ...
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- Posted: Dec 18, 2023 10:24pm
- Submitted by:Category: Entertainment NewsComments: 0 / Views: 5,038