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☆ CNBC Daily Open: Has the BOJ been ambiguous in its communication?
▼ + stars: | 2023-09-26 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Javier Ghersi | Moment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Korea's Kospi slumped 1.2% to multi-month lows, while the Hang Seng Index slipped 0.9% to lows last seen in August. [PRO] Luxury playsBank of America upgraded three luxury stocks that are bucking the negative trends afflicting the broader sector in Europe. Is his professorial tendency to think aloud and entertain various scenarios getting in the way of clearer market communication?

Persons: Javier Ghersi, Korea's Kospi, Bob Smith, Dave Limp, Smith, Kazuo Ueda, Ueda, Stanley Fischer, bank's Organizations: CNBC, Treasury, Amazon, Blue Origin, European, Coy, Huawei, Luxury, Bank of America, Bank, Japan, Yomiuri Shimbun, Massachusetts Institute of Technology, Reading Locations: Japan, Asia, Europe, Osaka

☆ Analysis-Amid Israel turmoil, markets want continuity at central bank helm
▼ + stars: | 2023-09-21 | by ( Steven Scheer | ) www.reuters.com time to read: +5 min

JERUSALEM (Reuters) - Financial markets are hoping Prime Minister Benjamin Netanyahu keeps Bank of Israel Governor Amir Yaron for a second term to safeguard the bank’s independence and provide reassuring stability to an economy rattled by political turmoil this year. FILE PHOTO: The Bank of Israel building is seen in Jerusalem June 16, 2020. “Therefore, markets and credit rating agencies are reading more into the question of ‘yes’ or ‘no’ to a second term. “Who will be governor is a major concern for investors abroad,” said Leader Capital Markets Chief Economist Jonathan Katz. Israeli media have reported that Netanyahu is considering Efraim Benmelech - a professor of finance at Kellogg School of Management at Northwestern University.

Persons: Benjamin Netanyahu, Amir Yaron, Ronen, Netanyahu, Yaron, Karnit Flug, Fitch, ”, Jonathan Katz, “, ” Katz, Nadine Baudot, Jacob Frenkel, ” Frenkel, Netanyahu’s, Flug, Stanley Fischer, Fischer, Efraim Benmelech, Benmelech, Andrew Abir Organizations: Bank, Israel, Bank of, REUTERS, Netanyahu’s, Wharton School, University of Pennsylvania, Reuters, ”, Capital Markets, Bank of Israel, Israel Democracy Institute, U.S . Federal Reserve, Kellogg School of Management, Northwestern University Locations: JERUSALEM, Bank of Israel, Jerusalem, Israeli, United States, Ukraine, Russia, “ Israel, Israel

☆ Analysis: Amid Israel turmoil, markets want continuity at central bank helm
▼ + stars: | 2023-09-21 | by ( Steven Scheer | ) www.reuters.com time to read: +6 min

[1/2] The Bank of Israel building is seen in Jerusalem June 16, 2020. "Therefore, markets and credit rating agencies are reading more into the question of 'yes' or 'no' to a second term. "Who will be governor is a major concern for investors abroad," said Leader Capital Markets Chief Economist Jonathan Katz. A few years earlier in 2010, Stanley Fischer accepted a second term and helped Israel weather the global financial crisis. Reporting by Steven Scheer Additional reporting by Maayan Lubell Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Ronen, Amir Yaron's, Benjamin Netanyahu, Amir Yaron, Yaron, Netanyahu, Flug, Fitch, Jonathan Katz, Katz, Nadine Baudot, Jacob Frenkel, Frenkel, Netanyahu's, Stanley Fischer, Fischer, Efraim Benmelech, Benmelech, Andrew Abir, Steven Scheer, Maayan, Christina Fincher Organizations: Bank of, REUTERS, Bank, Israel, Netanyahu's, Wharton School, University of Pennsylvania, Reuters, Capital Markets, Bank of Israel, Israel Democracy Institute, U.S . Federal Reserve, Kellogg School of Management, Northwestern University, Thomson Locations: Bank of Israel, Jerusalem, JERUSALEM, Israeli, United States, Ukraine, Russia, Israel

☆ Premarket stocks: Inflation just reached an inflection point
▼ + stars: | 2023-04-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

According to some experts, inflation rates have reached an inflection point and painful interest rate hikes could soon ease. Some economists believe that this level — around 5% — is the point at which inflation is no longer considered an emergency issue. That means the Federal Reserve could feel less pressure to quickly stabilize prices through aggressive, economically painful interest rate hikes. “The Fed … will insist that their job is done when inflation hits 2%,” Ball told Before the Bell on Wednesday. The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation all intervened to ensure bank customers could access all their money and to attempt to stave off future bank runs.

Kazuo Ueda, a 71-year-old university professor who has kept a low profile despite strong credentials as a monetary policy expert, ticked some important boxes. While he was not even on the list of dark horse candidates floated by the media, Ueda was well known in global central bank circles. The bank's preferred choices were incumbent deputy governor Amamiya, as well as former deputies Hiroshi Nakaso and Hirohide Yamaguchi, given their deep knowledge on monetary policy. Matsuno said he hoped the BOJ works closely with the government and guides monetary policy flexibly, when asked whether Ueda's appointment could lead to a retreat from Abenomics. While he warned of the rising cost of the BOJ's yield control policy, Ueda has called for the need to keep monetary policy loose to ensure Japan stably achieves the bank's 2% inflation target.

☆ At BOJ's helm, MIT-educated Ueda to put theory into practice
▼ + stars: | 2023-02-14 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

At MIT, he studied economics under Stanley Fischer, whose students include former U.S. Federal Reserve chair Ben Bernanke and former European Central Bank President Mario Draghi. He is a good listener and a consensus-builder, rather than a leader with a strong view on the direction of monetary policy, they say. "His style is to discuss monetary policy based on facts and evidence," said Tetsuya Inoue, who was Ueda's staff secretary when he was a central bank board member. In a column published in July, Ueda warned against raising rates prematurely in response to cost-push inflation - a sign he would be in no rush to tighten monetary policy. Upon approval by parliament, Ueda will assume the top BOJ post on April 9 and chair his first policy-setting meeting on April 27-28.

2 role vacant just as the central bank approaches a decision about when to stop raising interest rates. Brainard's arguments may not have been relevant to the decisions the Fed faces in the next few weeks. Heidi Shierholz, president of the labor-affiliated Economic Policy Institute, said it was "unbelievably important" that Biden find someone to fill Brainard's role. Administration officials gave no immediate sense of how soon Biden may name a new Fed vice chair, though outside analysts and commentators were already putting names in circulation from what's considered a deep bench of economists affiliated with Biden's Democratic party. The vice chair plays a particularly important role, typically reserved for somebody with a PhD in economics who can speak with technical authority about Fed policy and decisions.

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