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☆ Instant View: BOJ modifies bond yield control, re-defines long-term rate cap
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +10 min

But it's also likely the BOJ have their finger on the intervention button to cap any runaway rally on USD/JPY." Nevertheless, this is working in a way to increase the volatility of the global rates market. This means it will still have a certain distance until the BOJ exit from the negative rate policy." "A yield cap isn't a yield cap if you change it every time the market gets close." The Bank of Japan could lift the negative policy rate to zero over the coming year.

Persons: Kim Kyung, KYLE RODDA, MATT SIMPSON, JPY, it's, NOMURA, They've, TONY SYCAMORE, normalisation, TAKAYUKI MIYAJIMA, ROB CARNELL, they're, JEFF NG, TOM NASH, OMORI, SHOTARO KUGO, me, IZURU KATO, MARCEL THIELIANT, today's, FREDERIC NEUMANN, CHRISTOPHER WONG, BOJ's, Sherry Jacob, Phillips Organizations: National Printing Bureau, Bank of Japan, REUTERS, Bank of, Nikkei, SAXO, SONY, ING, UBS, CHIEF, DAIWA, OF, HSBC, Global, Thomson Locations: Tokyo, Japan, Bank of Japan, MELBOURNE, BRISBANE, SINGAPORE, TOKYO, U.S, SYDNEY, ASIA, PACIFIC, CHIEF JAPAN, stagflation, OF ASIA, YCC, HONG KONG

☆ 'They just come, take a nice selfie ... and leave.' Overtourism returns, but cities are fighting back
▼ + stars: | 2023-10-09 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +7 min

Many cities have come full circle to worrying about too many tourists rather than too few. "They just come, take a nice selfie, publish them on social media, increase the popularity of this place … and leave," she said. And an additional 50 million international tourist arrivals are expected per year — mostly from Asia — between now and 2030, according to the U.N.'s World Tourism Organization. James Matsumoto| Sopa Images | Lightrocket | Getty ImagesSome travelers supported Bhutan's $200 per day Sustainable Development Fee, which was announced in 2022. Managing 'tourist flow'The United Nations World Tourism Organization secretary-general, Zurab Pololikashvili, told CNBC Travel that the key to overcoming overtourism lies in "tourist flow."

Persons: Lionel Saul, Tatyana Tsukanova, What's, Tsukanova, Reinhard Hormandinger, Saul, Jesus Merida, It's, Luca Zanon, Ivan Saprov, Saprov, Miyajima, James Matsumoto, Zurab Pololikashvili, overtourism, Jon Hicks, —, Darrell Wade, Reinhard Hoermandinger Organizations: Hospitality Business, United Nations, Asia —, Tourism Organization, South, Afp, Getty, Guardian, daytrippers, CNBC, United Nations World Tourism Organization, CNBC Travel, Stone, Japan Times, Intrepid Travel Locations: Lausanne, Switzerland, Asia, South Korean, Machu Picchu, Peru, Acropolis, Athens, Borobudur, Indonesia, Sardinia, Venice, Bora Bora, Amsterdam, Spanish, Malaga, Spain, France, trialing, daytrippers . New, Valencia, Manchester, England, Thailand, Iceland, U.S, Bali, Germany, Yogyakarta, Labuan Bajo, Lake Toba, Austria

☆ Japan implements tourist tax at famous ‘floating shrine’
▼ + stars: | 2023-10-04 | by ( Lilit Marcus | ) edition.cnn.com time to read: +2 min

CNN —Japan’s popular Itsukushima Shrine has now become slightly more expensive to visit. Located in the town of Hatsukaichi, in Hiroshima prefecture, the torii – a shrine gateway – is part of a 1,400-year-old Shinto complex that’s listed as a UNESCO World Heritage site. Its striking appearance has made it one of the most recognizable attractions in Japan – even President Joe Biden visited earlier this year. Hatsukaichi has long struggled with overtourism, prompting officials to implement a tourist tax, which came into effect on Sunday. Each visitor to Miyajima, the island access point for the shrine, is now charged 100 yen (67 cents).

Persons: CNN —, Japan –, Joe Biden, ”, Shunji Mukai Organizations: CNN, UNESCO Locations: Hatsukaichi, Hiroshima prefecture, Japan, Miyajima, ”

☆ Japan's G7 summit menu: World leaders have plenty on their plates, including beef, oysters and sea urchins
▼ + stars: | 2023-05-20 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —World leaders attending the Group of Seven summit in Hiroshima have been treated to a belt-expanding tour of local gastronomical delights with a host of menus showcasing the best of Japanese fine dining. Leaders were also served sea bream with Japanese matsutake mushrooms, simmered stonefish and slipper lobster. Next came famously marbled beef sourced from Hiroshima – known as hiba beef – served alongside red sea urchin and eggplants, complemented by a selection of sparkling sake and red wine. For the main, they will be served with homegrown chicken and locally sourced mussels, according to the menu seen by CNN. And for those still hungry, Sunak and other world leaders will have plenty more opportunities to sample Japanese cuisine before they begin to depart from Sunday.

☆ This Year’s G7 Summit Doubles as a Club for Unloved Leaders
▼ + stars: | 2023-05-20 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

They come from far corners of the globe, speak different languages, span the ideological spectrum and range in age from 43 to 80. But one thing President Biden and the other leaders of the Group of 7 meeting in Japan this weekend have in common? For Mr. Biden and his counterparts from the world’s leading industrial powers, it is an age of democratic discontent when electorates seem perpetually dissatisfied with the presidents and prime ministers they have chosen. But their troubles have a way of following them and can limit their options and influence. He ended the day by skipping out about 90 minutes early from the leaders’ gala dinner on Miyajima island to take another call from home on the spending talks.

BEIJING/TAIPEI, April 11 (Reuters) - China's latest military drills near Taiwan show it is serious about being able to cut off the democratically ruled island in a conflict, analysts said, as Beijing said its aircraft carriers could "shatter" defences from the east. 1) Carrier OperationsMany analysts noted the jets flying off the Shandong aircraft carrier, which took up position east of Taiwan, about 230 kilometres (143 miles) south of Japan's Miyajima island. The aim of the drills was to show that they could encircle Taiwan in a blockade and deter foreign powers from intervening, Zhao said. 3) Precision TargetingThe PLA also said it carried out virtual simulations showing how its forces could execute targeted missile attacks on Taiwan. Japan's military said in a briefing on Tuesday that it was assessing China's manoeuvres around Taiwan, but described them as "without question, serious training".

The BOJ’s YCC faces a reckoningThe surprise news left investors and analysts trying to parse Ueda's recent commentary. "There is probably a lack of clarity on Ueda's policy leanings at the moment, but at least it is clear that Amamiya (who is seen as a dove) is out. That removes one of the headwinds for the yen," said Christopher Wong, currency strategist at OCBC in Singapore. "The knee-jerk reaction in yen appreciation is more of a reaction to Amamiya being out of the race." I think the new team means that they will redesign the BOJ's monetary policy, not maintain the current policy," said Takayuki Miyajima, a senior economist at Sony Financial Group in Tokyo.

The trade deficit came in at 2 trillion yen ($14.8 billion) - the fourth month in a row it has hit that level or more. Exports grew 20%, in line with estimates and also hitting a record, led by U.S. demand for cars and mining machinery. "What caught my eye was continued weak exports to China," said Takayuki Miyajima, senior economist at Sony Financial Group. Japan has logged a cumulative trade deficit this year of 18.5 trillion yen, more than the record annual 12.8 trillion yen trade deficit for 2014. Exports to the United States rose 32.5%, EU-bound exports climbed 32% while exports to Asia (excluding China) grew 11.6%.

☆ Bank of Japan keeps ultra-low rates, dovish policy guidance
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +11 min

Sept 22 (Reuters) - The Bank of Japan maintained ultra-low interest rates and dovish policy guidance on Thursday, reassuring markets that it will continue to swim against a global tide of central banks tightening monetary policy to combat soaring inflation. "However, we believe that the BOJ will never allocate monetary policy for the FX rate adjustment and will stick to the YCC policy. "The most important thing is how the foreign-exchange rate reacts to that contrast in monetary policy between the U.S. and Japan. It also leaves the impression there will be no change in monetary policy during Kuroda's remaining term." He has said lesser about any merit of the weak yen recently out of consideration towards public sentiment against rising costs of living."

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