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☆ Militaries of S.Korea, Japan and US to hold first joint aerial drill
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

The three countries are likely to conduct the exercise on Sunday and are coordinating the locations, South Korea's Dong-a Ilbo newspaper reported, citing a government source. A South Korean defence ministry official declined to confirm or comment on the details of the aerial exercise. General Kim Seung-kyum, who chairs the South's Joint Chiefs of Staff, said at a parliamentary hearing last week that the three countries were planning to stage joint aerial drills, local media reported. The U.S. nuclear-capable B-52 bomber, which is currently deployed in South Korea, made a rare flyover at a South Korean defence exhibition on Tuesday. In a further sign of growing trilateral security cooperation, South Korea, the United States and Japan have completed work on a three-way communications hotline, Yonhap news agency reported on Tuesday, citing a senior Seoul official.

Persons: Se Jong, Yul Gog Yi, Navy's Arleigh Burke, John Finn, David, Kim Seung, Hyunsu Yim, Raju Gopalakrishnan Organizations: Republic of Korea Navy, Self, Defense Force, U.S, Navy's, Ilbo, Chiefs of Staff, Seoul, Thomson Locations: Republic, SEOUL, South Korea, United States, Japan, U.S, Korean, North Korea

☆ U.S. holds drills with allies off Korean Peninsula, Pyongyang vows to bolster navy
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: +1 min

South Korean Navy's destroyer Yulgok Yi I, , U.S. Navy's USS Benfold and Japan Maritime Self-Defense Force's JS Atago sail in formation during a joint naval exercise in international waters on April 17, 2023 at an undisclosed location. SEOUL — The United States, South Korea and Japan staged joint naval missile defense drills off the Korean Peninsula on Tuesday, as North Korea accused Washington and its allies of creating "the most unstable waters with the danger of a nuclear war." The three nations staged exercises in international waters off South Korea's southern Jeju island to improve their ability to detect and track targets, and share information in the event of provocation by Pyongyang, South Korea's military said. The drills come as North Korean leader Kim Jong Un has called for "radically" modernizing the weapons and equipment of its naval forces, criticizing an increased presence of U.S. strategic assets in the region. In a speech to mark Navy Day, Kim said the "gang bosses" of the United States, Japan and South Korea announced regular joint military exercises, news agency KCNA reported, apparently referring to their Aug. 18 summit at Camp David, Maryland.

Persons: Yulgok Yi I, Force's, Kim Jong, Kim, KCNA Organizations: Japan, Self, Atago, South Korea Locations: Korean, U.S, Benfold, SEOUL, United States, South Korea, Japan, North Korea, Washington, Jeju, Pyongyang, South, Camp David , Maryland

☆ BOJ unlikely to move in April, most economists say: Reuters poll
▼ + stars: | 2023-04-21 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

The BOJ will likely keep YCC unchanged at next week's meeting as it awaits more evidence of sustained wage growth, sources have told Reuters. Only three of 27 economists, or 11%, said the BOJ will start to scale-back its monetary stimulus next week, whereas 11 (41%) opted for the June meeting, the April 12-19 poll showed. He added the lowered U.S. and Japanese yields after the financial turmoil also decreased the urgency to tweak YCC, which has previously faced market attacks to break the upper limit. Compared with the March poll, fewer economists expect a sudden abolition of YCC to come without warning. Half of the 24 respondents anticipated another YCC tweak, if not an outright end, in April-June.

☆ New BOJ chief's message to world: We're staying the course - for now
▼ + stars: | 2023-04-17 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

Under YCC, the BOJ guides short-term rates at -0.1% and the 10-year Japan government bond yield around zero with an implicit cap of 0.5%. "We're in an economy where we're going to be hit more by supply shocks, and monetary policy will face more serious trade-offs," she said on Friday. Ranil Salgado, the IMF's Japan mission chief, sees scope for the BOJ to modify the long-term yield target this year, given heightening prospects of durable wage growth. As long as the short-term rates remain zero or slightly negative, the BOJ can keep monetary policy accommodative even if it tweaks the yield target, he said. "We are advising (the BOJ) to pretty much already be thinking about it," Salgado said on the idea of tweaking YCC.

☆ South Korea, US, Japan to hold missile defence drills to counter North Korea
▼ + stars: | 2023-04-17 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

SEOUL, April 17 (Reuters) - South Korea, the United States and Japan will stage joint naval missile defence exercises on Monday as they push for greater security cooperation to better counter North Korea's evolving missile threats, Seoul's navy said. Monday's drills will be held in international waters between Korea and Japan, bringing together South Korea's 7,600-ton Aegis destroyer Yulgok Yi I, U.S. guided-missile destroyer USS Benfold, and Japan's Atago destroyer, also equipped with Aegis radar systems. The three countries would focus on mastering response procedures from detection to tracking to information sharing by creating a virtual target under the scenario of a North Korean ballistic missile provocation, the South Korean navy said. South Korean and U.S. air forces are separately set to begin their drills on Monday for a 12-day run. South Korean President Yoon Suk Yeol has pledged to move the ties beyond the past and visited Tokyo in March for the first time in 12 years as the country's leader.

☆ Analysis: New BOJ head's message to world: We're staying the course - for now
▼ + stars: | 2023-04-16 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

World markets this week will be dominated by U.S. inflation figures on Tuesday, leaving Monday free for investors in Asia to digest the previous session's action on Wall Street and adjust positioning ahead of the numbers. Indian consumer price inflation for January tops Monday's Asian economic calendar. Revised figures on Friday showed that inflation in December was a little stronger than originally reported, and a closely-watched consumer inflation expectations survey showed a notable spike in the short-term outlook. Tough talking on inflation from Fed officials was matched last week by their peers in Australia, India and Sweden, so the push is global. Sources have told Reuters that 71-year old academic Kazuo Ueda, a former Bank of Japan policy board member has been lined up to replace Haruhiko Kuroda as BOJ governor.

☆ Analysis: BOJ bullishness on wages suggests days of super-low rates are numbered
▼ + stars: | 2023-01-19 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

Kuroda likely put YCC on life support so his successor can strategise an orderly exit, said former BOJ official Nobuyasu Atago. He said the bank could raise the 0.5% yield cap to as high as 1% around mid-year and ditch negative rates by year's end. The parent of casual clothing giant Uniqlo says it will raise wages as much as 40%. "If the BOJ ends negative rates, that would widen the spread between deposit and lending rates so would definitely be positive for us," he said. With YCC creaking under market pressure, the BOJ may not be able to wait too long.

☆ Bank of Japan keeps yield control policy unchanged
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +7 min

MARKET REACTION:The Japanese stock market cheered the BOJ's decision with the Nikkei share average (.N225) jumping more than 2% after the midday break. Therefore, among equities, we think Japanese financials sector will have a rerating of valuations over the next 3-6 months." That could escalate when the new governor of the bank will be announced and towards the policy meeting in March." MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE, SINGAPORE"The can has been kicked down the road and the attention will shift to the next meeting. CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE:"I think the speculations will still continue.

☆ Bank of Japan makes surprise policy tweak
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +8 min

ATUSHI TAKEDA, CHIEF ECONOMIST, ITOCHU ECONOMIC RESEARCH, TOKYO:"Today's move reflects the BOJ's determination not to alter its yield cure control policy. CAROL KONG, CURRENCY STRATEGIST, COMMONWEALTH BANK OF AUSTRALIA, SYDNEY:"I think the move was certainly unexpected, to say the least. MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE:"They've widened the band, and I guess that came earlier than expected. CHRISTOPHER WONG, CURRENCY STRATEGIST, OCBC, SINGAPORE:"The timing of the policy tweak is a surprise, though we have been expecting the move to come in 2Q 2023. "The tweak may seem modest but is significant for a central bank that has held dovish for a long time.

☆ Japan may build 2 huge warships to counter the growing missile threat from North Korea
▼ + stars: | 2022-12-15 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

That has led Japan to examine its missile defense, which relies on specially designed warships. The launches have forced Japan to examine its unique ballistic-missile defense system, which relies heavily on specially equipped warships to intercept incoming missiles. US Missile Defense Agency/Heather CavaliereJapan began developing its current BMD system in 2004. US Navy/MCS3 Quinton A. LeeThe Aegis-equipped BMD ships are the most important part of Japan's BMD system. US Navy/MCS Seaman Aleksandr FreutelThere are advantages to relying on maritime-based platforms for missile defense.

☆ BOJ's next move will unwind loose policy, 92% of economists say
▼ + stars: | 2022-11-29 | by ( Kantaro Komiya | ) www.reuters.com time to read: +4 min

Twenty-four of 26 economists in the Nov 15-25 poll said the BOJ's next action, if any, would be "unwinding its ultra-easy monetary policy". Widely known as the policy accord, it requires the central bank to achieve its 2% inflation target "at the earliest date possible." Among those who wanted a revision, seven called for more flexibly judging achievement of the inflation target. One BOJ watcher calling for change wanted a lower inflation target, and another said the BOJ's mandate should be enlarged to include targeting employment or wage rises. On Monday, Prime Minister Fumio Kishida rejected the idea of adding wage growth as a new monetary policy goal.

☆ BOJ's next move will unwind loose policy, 92% of economists say: Reuters Poll
▼ + stars: | 2022-11-29 | by ( Kantaro Komiya | ) www.reuters.com time to read: +4 min

Twenty-four of 26 economists in the Nov 15-25 poll said the BOJ's next action, if any, would be "unwinding its ultra-easy monetary policy". Widely known as the policy accord, it requires the central bank to achieve its 2% inflation target "at the earliest date possible." Among those who wanted a revision, seven called for more flexibly judging achievement of the inflation target. One BOJ watcher calling for change wanted a lower inflation target, and another said the BOJ's mandate should be enlarged to include targeting employment or wage rises. Two economists in the poll said the accord should simply be abolished.

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