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☆ Jamie Dimon and Ray Dalio sound the alarm on soaring US government debt
▼ + stars: | 2024-05-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —The chorus of voices warning about the dangers of record US government debt is growing louder. In the past 24 hours, JPMorgan (JPM) CEO Jamie Dimon and Ray Dalio, founder of the world’s biggest hedge fund, have weighed in with concerns about America’s debt pile. Ray Dalio, the billionaire founder of Bridgewater Associates, during a Bloomberg Television interview in New York in April 2024. Dimon acknowledged that debt-fueled government spending, including pandemic stimulus, had been one of the reasons behind robust growth in the world’s biggest economy. Debt servicing costs have also soared, on the back of higher official interest rates, leaving less money for public services.

Persons: Jamie Dimon, Ray Dalio, Dimon, you’ll, Dalio, I’m, ”, Victor J, we’ve, ” Dimon, Liz Truss Organizations: London CNN, JPMorgan, Sky News, Treasury, Financial Times, International Monetary Fund, Congressional, Office, Bridgewater Associates, Bloomberg Television, Bloomberg, Getty, Treasury Department, IMF, US, Federal Locations: Russia, New York, America, Covid, United, United Kingdom

☆ China's economy reveals pockets of softness. Here's what to watch ahead of Friday's data
▼ + stars: | 2024-05-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The National Bureau of Statistics is due to release data on retail sales, industrial production and fixed asset investment for April on Friday. Some of the weakness speaks to genuine sluggish demand in China at present. The firm expects this week's economic data releases to show a "softening in economic momentum," affirming its forecasts for the central bank to cut rates by the end of June. "Some of the weakness speaks to genuine sluggish demand in China at present," said Hui Shan, Goldman Sachs' China chief economist, in a note Sunday. Businesses' loan demand fallsNew bank loans to businesses and government organizations dropped sharply in April from March, as did new loans to households, according to official data accessed through Wind Information.

Persons: Hui Shan Goldman Sachs, Louise Loo, Goldman Sachs, Hui Shan, Goldman, RRR, Pan Gongsheng Organizations: Visual China, Getty, BEIJING, National Bureau, Statistics, Reuters, Finance, Oxford Economics, People's Bank of, Information, Clocktower, CNBC Locations: Lianyungang, Jiangsu Province, China, —, Beijing, People's Bank of China

☆ Disney's earnings sell-off opens the door to buy back stock we sold higher
▼ + stars: | 2024-05-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. That trust had been shaken by Palo Alto's brutal report in February, which caused a steep sell-off in the stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Morgan Stanley, It's, Jeff Marks, we're, Palo, We've, Jim Cramer's, Nikesh Arora, Jim Organizations: CNBC, Dow, Nasdaq, Costco, Disney, Barclays, Palo Alto Networks Locations: Government, Palo Alto

☆ CNBC's Inside India newsletter: Will AI make or break India?
▼ + stars: | 2024-05-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +9 min

But one that could foreshadow India's growth story. Can Teleperformance's stock plunge be the canary in the coal mine for what is likely to happen to India because of AI? But it's likely to be a blip for India's growth trajectory, given the macro forces at play. Besides creating jobs that are less likely to be immediately disrupted by AI, India could also be a net beneficiary of artificial intelligence. The Indian stock market indexes, Sensex and Nifty 50 , are heading for a positive week again — up by 1% and 1.2%, respectively.

Persons: Findlay Kember, Klarna, ChatGPT, K Krithivasan, Krithivasan, Narendra Modi, It's, Shilan Shah, Goldman Sachs, Vinay Dwivedi, Ashok Gulati, Nomura, League Pickleball, Karine Jean, Pierre, Jerome Powell, Raghuram Rajan, Ashish Jain, CNBC's Ayushi Jindal Organizations: AFP, Getty, India's Tata Consultancy Services, Financial Times, TCS, World Bank, International Monetary Fund, University of Oxford, Capital Economics, Investment, Nomura, Qualcomm, Powerchip Semiconductor Manufacturing, UPI, India, Commission, Agricultural, United Pickleball Association, Global Sports, PPA, League, Washington Post, White, U.S ., Federal, CNBC, Reserve Bank of India, University of Chicago Booth School of Business Locations: Swedish, Paris, India, Chennai, U.S, Europe, China, Singapore, South Korea, Canada, United States

☆ Yen gives up ground vs dollar following surge on suspected intervention
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: +3 min

An attendant holds a sample of newly-designed Japanese 10,000 yen banknote, with three-dimensional holographic technology to prevent forgery, for a photograph at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The yen gave up ground in early trade on Thursday, reversing direction after a sudden surge against the dollar overnight that traders and analysts were quick to attribute to intervention by Japanese authorities. The dollar was 0.9% higher at 155.98 yen as of 0100 GMT, retracing about half of its late Wednesday surge from around 157.55 to exactly 153 over a period of about 30 minutes. "The 'sneak attack' element really is the MOF (Japan's Ministry of Finance) looking to punish speculators and send a warning about shorting the yen." That helped lift the dollar to a 34-year peak of 160.245 yen on Monday and also spurred a sharp reversal which official data suggested was due to Japanese intervention totalling about $35 billion.

Persons: Jerome Powell, Masato Kanda, Kyle Rodda, Sterling, Powell, Jack Mclntyre Organizations: National Printing Bureau, Federal Reserve, Reuters, Capital.com, Japan's Ministry of Finance, Bank of Japan, Brandywine Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S, Melbourne

☆ Dollar a tad softer as markets wait for Fed
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

Japan's yen was at 158.05 per dollar, up nearly 0.2% in quiet trading with Tokyo markets closed for the first of the country's Golden Week holidays. "The bar is pretty high for a sustained hawkish surprise, which would in turn lift yields," he said, referring to the Fed. "The BOJ disappointment might be transcribed onto the FOMC insofar that they may be more undecided than decidedly hawkish." The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at the April 30-May 1 meeting. Markets are also on guard for any intervention by Japanese authorities to contain the yen's nearly 11% fall this year.

Persons: Jerome Powell, Vishnu Varathan, Sterling Organizations: U.S, Bank of, Mizuho Bank, Market Committee Locations: Japan, Tokyo, Bank of Japan, Asia, Singapore

☆ The AI-fueled stock market bubble will crash in 2026, research firm says
▼ + stars: | 2024-04-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The AI-fueled stock market bubble will burst in 2026, according to Capital Economics. The research firm said rising interest rates and higher inflation will weigh down equity valuations. AdvertisementAn artificial intelligence-fueled stock market bubble will burst in 2026, according to Capital Economics. The research firm has said that a stock market bubble, driven by investor excitement towards artificial intelligence, would drive the S&P 500 to as high as 6,500 by 2025, led by technology stocks. The expected bursting of the stock market bubble should lead to a decade of investment returns that favor bonds over stocks.

Persons: —, Diana Iovanel, James Reilly, Iovanel, Reilly Organizations: Capital Economics, Service, Capital, US

☆ Buying China 10-year government bond might not be a silly idea over the medium term: Strategist
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuying China 10-year government bond might not be a silly idea over the medium term: StrategistBen Bennett from LGIM discusses why China is not un-investable.

Persons: Ben Bennett, LGIM Locations: China

☆ 'It's time to buy government bonds,' portfolio manager says
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'It's time to buy government bonds,' portfolio manager saysJames Carter, fixed income portfolio manager at Waverton, discusses the outlook for interest rates and the global economy.

Persons: James Carter

☆ UK property prices: Brits face biggest obstacles in 70 years to buying a first home
▼ + stars: | 2024-04-22 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

“During some periods both the cost of buying (down payments) and the cost of owning (mortgage repayments) have been high. Mortgage rates biteThe average mortgage repayment has rocketed since late 2021 as the Bank of England, along with other major central banks, began jacking up official interest rates to bring down inflation. (The interest rate on some government bonds is used to set mortgage rates). On Monday, the average rate on a two-year fixed-rate mortgage stood at 5.82%, according to data from product comparison website Moneyfacts. “An election is due within the next year and a new government, committed to helping prospective first-time buyers, might start by acknowledging the challenges younger generations face not just in housing but more generally,” the BSA said.

Persons: Liz Truss, “ Organizations: London CNN, Building Societies Association, BSA, Office, National Statistics, Bank of England, UK Finance Locations: United Kingdom, London, England, Wales

☆ Here's why economists are so worried about soaring US debt levels
▼ + stars: | 2024-04-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Those include higher inflation, greater market volatility, and a lower quality of life for Americans. AdvertisementThe US is sitting on the biggest pile of public debt in its history, and economists are getting nervous about it. AdvertisementIt's critical for the US to sell its debt to investors, which range from institutions, individuals, and other countries. It won't be on housing, it'll be on interest," Zagorsky said. There's little the government can do to stop those problems from brewing, other than to stop taking on so much new debt, Zagorsky and Rubin say.

Persons: —, Les Rubin, Rubin, Jay Zagorsky, Zagorsky, it'll, There's Organizations: Service, Bank of America, US Treasury, Boston University, Inflation, Social Security

☆ America’s debt problem could spell higher interest rates in the rest of the world
▼ + stars: | 2024-04-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The IMF said Wednesday that increased government spending, growing public debt and elevated interest rates in the United States had contributed to high and volatile yields — or interest rates — on Treasuries, raising the risk of higher rates elsewhere. “Loose fiscal policy in the United States exerts upward pressure on global interest rates and the dollar,” Vitor Gaspar, director of the IMF’s fiscal affairs department, told reporters. Higher interest rates make it more costly for households and businesses to service their loans, which can lead to defaults that cause losses at banks and other lenders, increasing financial instability. That means that even if the Fed cuts interest rates later this year — the IMF’s central scenario — US government funding costs may not fall by the same margin, he added. The IMF expects US public debt to continue rising, helping drive government debt worldwide to close to 100% of global gross domestic product by 2029, from 93% last year.

Persons: ” Vitor Gaspar, ”, Jerome Powell, ” Tobias Adrian, Gaspar, Pierre, Olivier Gourinchas, That’s Organizations: London CNN, International Monetary Fund, IMF, Federal Reserve, Treasury Department, Treasury, US, Federal Locations: United States, Washington

☆ An American expat who retired at 53 said he got 3 things right on his decades-long FIRE journey
▼ + stars: | 2024-04-17 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +7 min

Todd Miller retired at 53 because he did not want his life to be defined by his career. "I didn't have the vocabulary back then of 'financial independence,' but I said I wanted optionality," Miller told Business Insider. He picked age 50 to retire — what the personal finance industry now calls FIRE, which stands for Financial Independence, Retire Early. In 2019, just three years after the initial age target he had set for himself, Miller took the plunge and retired at 53. His passive income now funds the family's lifestyle in Phuket, Thailand, where they live.

Persons: Todd Miller, —, Miller, that's, you've, shubhangigoel@businessinsider.com Organizations: Service, Business, Financial Independence, FIRE Locations: Thailand, Singapore, Hong Kong, Phuket, American, Real, Mardi, Nepal, Africa, Cambodia, Vietnam, Europe, Canada, Paris, Uganda, Asia

☆ Wall Street Shudders on Signs of Unexpectedly Strong Inflation
▼ + stars: | 2024-04-10 | by ( Joe Rennison | More About Joe Rennison | ) www.nytimes.com time to read: 1 min

Signs of stubborn inflation rattled Wall Street on Wednesday, with stock prices sliding and government bond yields, which underpin interest rates throughout the economy, jolting higher. Other major indexes, including the tech-heavy Nasdaq Composite and the Russell 2000 index of smaller companies, also fell. The moves followed a consumer inflation report that came in hotter than expected, with prices rising 3.5 percent in March from a year earlier, marking another month of stubbornly high inflation. That made it harder for investors to dismiss earlier signs that the progress in cooling inflation was patchy. “The stalled disinflationary narrative can no longer be called a blip,” said Seema Shah, chief global strategist at Principal Asset Management.

Persons: Russell, ”, Seema Shah Organizations: Nasdaq, Asset Management

☆ Fitch's negative outlook for China is more bad news for its stalling economy
▼ + stars: | 2024-04-10 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Read previewFitch Ratings has cut its outlook for China, adding to the gloom surrounding the world's second-largest economy. It cut its outlook from "stable" to "negative," but maintained its overall rating at "A+." The move comes after Moody's Investor Services, another major credit-rating agency, also downgraded its outlook for China to "negative" in December. As a result Fitch expects economic growth to fall to 4.5% for 2024. The ratings agency said policymakers will probably have no choice but to borrow to address its economic woes.

Persons: —, Fitch, Fitch's Organizations: Service, Business, Moody's Investor Services, Analysts, St Louis Federal Reserve, CSI Locations: China, Beijing

☆ Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle
▼ + stars: | 2024-04-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Jakub Porzycki | Nurphoto | Getty ImagesCrypto startup Ripple is the latest major player to jump into the $150 billion stablecoin market with the launch of a digital currency pegged to the U.S. dollar. The move would pit Ripple against stablecoin giants like Tether, which is behind the largest stablecoin UDST, and USDC issuer Circle. Payments giant PayPal , meanwhile, launched its own U.S. dollar stablecoin called PayPal USD, a stablecoin backed by U.S. dollars and dollar equivalents that is issued by crypto firm Paxos. watch nowTether is the market leader for stablecoins with a market capitalization of $106.3 billion, according to CoinGecko data. "In fact, the number one request we get from the XRP community is to launch a USD-backed stablecoin on the XRP Ledger."

Persons: Jakub Porzycki, Brad Garlinghouse, he's, Garlinghouse, Tether's, USDT, USDC, MoneyGram Organizations: U.S, SEC, Nurphoto, Getty, U.S ., PayPal, CNBC, Bank, FinCEN, Santander, U.S . Securities, Exchange Commission, Southern, of Locations: U.S, Europe, Asia, New York, Ireland, Singapore, of New York

☆ UBS is bullish on investment-grade corporate bonds. Here's why
▼ + stars: | 2024-04-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Yields may be down from last year's highs, but there is still plenty for income investors to like about investment-grade corporate bonds, according to UBS. The effective yield on the ICE BofA U.S. Corporate Bond Index , which tracks the performance of U.S. dollar-denominated investment-grade corporate debt, is currently hovering around 5.5%. "This measures IG's return over duration-matched Treasuries, meaning that it's been advantageous to own IG over U.S. government bonds," he added. Inside the investment grade market, UBS prefers the financial sector over nonfinancial issuers, and favors short- and intermediate-term duration. Meanwhile, the spread pickup from A-rated bonds to BBB-rated bonds is historically tight, on average.

Persons: Barry McAlinden, McAlinden, Fitch Organizations: UBS, ICE, Corporate, ., Treasury, Poor's

☆ Ukraine's Zelenskiy Reports His Income Increased in 2022
▼ + stars: | 2024-03-29 | by ( March | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Ukrainian President Volodymyr Zelenskiy on Friday declared his income for 2022 rose to 12.42 million hryvnias ($306,000) from 3.7 million hryvnias the previous year, with the increase attributable to improved rent collection and sale of some government bonds. It said Zelenskiy and his family had derived income of 7.45 million Ukrainian hryvnias from the sale of government bonds. It said most of the income came from his salary, bank interest and rent payable from his properties. In previous declarations, Zelensky reported a family income of 3.7 million hryvnias and in 2021, before the outbreak of the war in 2022, an income of 10.8 million hryvnias. The steep decline in 2022 was attributed to less rental income.

Persons: Volodymyr Zelenskiy, Zelenskiy, Zelensky, Ron Popeski, Oleksandr Kozhukhar, David Gregorio Organizations: Reuters, European Union, International Monetary Fund Locations: Ukraine

☆ Runaway government debt could sink markets and slam the economy, 2 watchdogs warn
▼ + stars: | 2024-03-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The US government's ballooning interest payments are eating a hole in its budget, they said. "We are headed toward record spending levels, record deficit levels, record debt levels, record interest payments — the list goes and on," Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, told Fox Business this week. While the US isn't at imminent risk of that kind of chaos, bond markets could "snap back" if the government's interest payments soar to $1 trillion in 2026 as expected, Swagel said. AdvertisementHowever, she noted that some experts on Wall Street were "incredibly worried" about the national debt and interest payments. DoubleLine Capital CEO Jeffrey Gundlach has also sounded the alarm on debt payments.

Persons: —, MacGuineas, Philip Swagel, Liz Truss, Swagel, bitcoin, Jim Rogers, George Soros, He's, Jeffrey Gundlach Organizations: Investors, Service, Federal Budget, Fox Business, Congressional, Office, Financial Times, Bank of, CBO, Wall, DoubleLine

☆ How to beat the retirement crisis: The founder of America's top wealth advisor explains how to properly save, and shares 2 sectors that could expedite returns if you're not on track
▼ + stars: | 2024-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there. And as a result of this, if you're going to live during a 30 or 40 year retirement. In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing. When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said. All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.

Persons: haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton Organizations: Federal Reserve, Edelman, New York Times, Trust, Vanguard Locations: America

☆ US debt: Is America at risk of a Liz Truss-style market meltdown? The CBO thinks so
▼ + stars: | 2024-03-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

In an interview with the Financial Times, CBO director Phillip Swagel said US government debt — which the Treasury Department puts at nearly $35 trillion — is on an “unprecedented” trajectory. UK government bonds, or gilts, and the pound sold off sharply, partly in response to plans by Truss to issue more debt in order to pay for tax cuts. Mortgage rates and other borrowing costs soared as investors demanded much higher premiums for owning UK debt. He has promised to extend his 2017 tax cuts and has also spoken about reducing the corporate tax rate from the current 21% to 15%. “I will make the Trump tax cuts the largest tax cut in history,” he said last month at the Black Conservative Federation’s Honors Gala in South Carolina.

Persons: Phillip Swagel, Liz, ”, Truss, ” Swagel, Dave Ramsden, Donald Trump’s, Joe Biden, Fitch, “, Trump Organizations: London CNN, Congressional, Financial Times, Treasury Department, CNN, Bank of England, Democrats, Trump, Black Conservative, US Treasury, Federal, CBO Locations: United States, United Kingdom, South Carolina

☆ Indian bonds are set to be added to global indexes. Here's why it could be a gamechanger
▼ + stars: | 2024-03-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

An undated editorial illustration of the Indian rupee and the Indian flag. The decision to include Indian government bonds in two prominent global indexes recently is being viewed as a shot in the arm for the rapidly growing country and is expected to bring in billions of inflows. India's bonds will be added to the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) in June, the Wall Street lender announced in September. The JPMorgan inclusion is reportedly India's first ever inclusion in a global bond index. JPMorgan has said the inclusion of Indian bonds will be staggered over 10 months, starting from a 1% in June to a maximum 10% weightage in its index in April next year.

Persons: Deepak Agrawal, Agrawal, Goldman Sachs Organizations: JPMorgan Government Bond, Bloomberg, Services, Emerging, Local, Kotak Mutual Fund, CNBC, JPMorgan

☆ Japan's central bank just raised interest rates for the first time in 17 years
▼ + stars: | 2024-03-19 | by ( Yuri Kageyama | Associated Press | ) www.businessinsider.com time to read: +4 min

Read previewTOKYO (AP) — Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. The negative interest rate policy, combined with other measures to inject money into the economy and keep borrowing costs low, "have fulfilled their roles," the bank said in a statement. The Japanese central bank's policy is quite different from those of the US Federal Reserve and the European Central Bank. Analysts expect the Bank of Japan to continue to move slowly on further raising interest rates.

Persons: —, Kazuo Ueda, Haruhiko Kuroda Organizations: Service, Business, Bank of, Bank of Japan, US Federal Reserve, European Central Bank Locations: Japan, Bank of Japan, U.S, China

The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.

Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, —, JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia

☆ Bank of Japan hikes rates for the first time in 17 years in a historic shift, abolishes yield curve control
▼ + stars: | 2024-03-19 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Japan's central bank raised interest rates on Tuesday for the first time since 2007, ending the world's last negative rates regime on early signs of robust wage gains this year. The BOJ raised its short-term interest rates to around 0% to 0.1% from -0.1%, according to its statement at the end of its two-day March policy meeting. Japan's negative rates regime had been in place since 2016. The BOJ also announced the abolition of its radical yield curve control policy for 10-year Japanese government bonds, which the central bank has employed to target longer-term interest rates by buying and selling bonds as necessary. The Bank of Japan expects higher salaries to lead to a virtuous spiral with domestic demand fueling inflation.

Persons: BOJ, Kazuo Ueda Organizations: Japan Inc, Bank of Japan Locations: Japan, Japan's

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