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☆ As Kuroda bows out, Bank of Japan's rising hawks eye end to unloved yield cap
▼ + stars: | 2022-12-16 | by ( Leika Kihara | ) www.reuters.com time to read: +12 min

PUBLIC DISCONTENTAfter a tumultuous year for the world's third-largest economy, Japan's central bank and its leadership face a critical moment. While ruling out the need to ditch the yield cap now, Takata recently said he saw positive developments in wage growth. "The BOJ must start worrying about the possibility of inflation accelerating more than expected," he told Reuters, adding the BOJ may abandon its yield cap as early as next year. Such a reaction was seen in March when the BOJ was forced to pledge unlimited bond buying to defend its yield cap from speculative market attacks. "That's why the BOJ won't provide advance signals and remove the yield cap in a single step."

☆ U.S. confirms another Honda death from faulty air bag
▼ + stars: | 2022-12-09 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File PhotoWASHINGTON, Dec 9 (Reuters) - A U.S. auto safety regulator on Friday said it had confirmed a new crash death from a faulty air bag in a Honda (7267.T) car, as it urged owners to get recall repairs completed. The National Highway Traffic Safety Administration (NHTSA) said it had confirmed that the February death of the driver of a 2002 Honda Accord in Bowling Green, Kentucky, was due to a faulty air bag inflator. Four Takata air bag deaths have been confirmed this year, including two Stellantis (STLA.MI) vehicles and one Ford (F.N) vehicle. Also last month, the NHTSA confirmed a new death due to a defective Takata air bag inflator in a 2006 Ford (F.N) Ranger pickup. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

☆ BOJ policymaker Takata rules out ending yield cap - Nikkei
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

Under YCC, the Bank of Japan (BOJ) sets a -0.1% target for short-term interest rates and caps the 10-year bond yield around 0% to achieve its 2% inflation target in a sustainable manner. Markets are simmering with speculation the BOJ could remove the 10-year yield cap to address the mounting cost of prolonged easing, such as the distortions its huge bond buying is causing in the shape of the yield curve. "Unfortunately, I don't think Japan is in that phase yet," Takata told the Nikkei in an interview published on Saturday, on whether the central bank could ditch YCC. While it wasn't easy to sustainably achieve the BOJ's 2% inflation target, there were some positive signs in corporate capital expenditure and wages, Takata was quoted as saying. Reporting by Leika Kihara; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Auto Safety Regulator Sounds Alarm After Another Air-Bag Death
▼ + stars: | 2022-11-17 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Ford says it has managed to replace air bags in 97% of its vehicles affected by the recall. The top federal auto-safety regulator is urging drivers to check for open recalls on their vehicles after a Florida man became the latest confirmed victim of an exploding Takata air bag. The National Highway Traffic Safety Administration said Thursday that the driver of a 2006 Ford Ranger perished when his driver’s side air-bag inflater ruptured during a crash. The vehicle was already subject to a “Do Not Drive” warning Ford issued back in 2018 that called on drivers to bring their vehicles to a local dealership to get replacement air bags installed.

☆ Some Dodge and Chrysler drivers have been told not to drive their cars after faulty airbags caused three deaths in 7 months
▼ + stars: | 2022-11-04 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

Stellantis has issued a 'Do Not Drive' warning on around 276,000 vehicles, the NHTSA announced. The issue relates to a fault with Takata airbags, which can cause them to explode. Over 67 million vehicles fitted with Takata airbags have been subject to recalls over the last decade, per The NHTSA's website. Ford began replacing airbags in 2.6 million vehicles in April 2021. "Left unrepaired, recalled Takata air bags are increasingly dangerous as the risk of an explosion rises as vehicles age.

☆ Some Dodge, Chrysler vehicles deemed dangerous over airbag defect
▼ + stars: | 2022-11-03 | by ( ) www.nbcnews.com time to read: +2 min

Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. Stellantis said a Takata air bag was suspected in a third death. “Left unrepaired, recalled Takata air bags are increasingly dangerous as the risk of an explosion rises as vehicles age,” said NHTSA Acting Administrator Ann Carlson. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators. The 30 million vehicles that are part of the 2021 investigation have inflators with a “desiccant” or drying agent.

☆ Stellantis Unit Urges Some Dodge and Chrysler Owners to Stop Driving After Air Bag Deaths
▼ + stars: | 2022-11-03 | by ( Ryan Felton | Dean Seal | ) www.wsj.com time to read: 1 min

Getting air bags replaced in the recalled vehicles takes about an hour. A Stellantis NV subsidiary is urging owners of certain Dodge and Chrysler vehicles to fix open recalls on these models, after reports that three people were killed by exploding Takata air bags. FCA US LLC, a unit of the global auto maker, had recalled about 276,000 Dodge and Chrysler models in 2015 to fix air bags that were known to rupture upon deployment, flinging metal shards into the vehicle’s cabin.

☆ Chrysler-parent urges 276,000 U.S. owners to stop driving after air bag deaths
▼ + stars: | 2022-11-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 3 (Reuters) - Chrysler-parent Stellantis (STLA.MI) is urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported in the last seven months. Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. More than 30 deaths worldwide and hundreds of injuries in various automakers' vehicles are linked to Takata air bag inflators that can explode, unleashing metal shrapnel inside cars and trucks. Stellantis said a Takata air bag was suspected in a third death. Last year, the NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

☆ Chrysler-parent air bag crash deaths prompt U.S. alert
▼ + stars: | 2022-11-03 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 3 (Reuters) - Chrysler-parent Stellantis (STLA.MI) on Thursday urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported in the last seven months. Stellantis said replacement driver-side air bags have been available for the vehicles subject to the stop driving notice since 2015. Stellantis said a Takata air bag was suspected in a recent third death also in a 2010 Charger. There have been more than 400 U.S. injuries reported tied to Takata air bags. Last year, NHTSA opened a probe into 30 million vehicles built by nearly two dozen automakers that have potentially defective Takata air bag inflators.

☆ 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."

☆ BOJ to keep ultra-low rates, remain global outlier despite weak yen
▼ + stars: | 2022-09-21 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

Any such decision could drive down the Japanese currency further from 24-year lows hit in recent weeks, as investors focus on the widening gap between Japan's ultra-low interest rates and the U.S. Federal Reserve's aggressive rate hike plans. "With other central banks hiking rates, the BOJ's negative rate policy will come under the spotlight and may unleash further yen selling." The BOJ's rate review will be the first one for Hajime Takata and Naoki Tamura, who joined the nine-member board in July. They succeeded former commercial banker Hitoshi Suzuki and economist Goushi Kataoka, a vocal advocate of aggressive easing who consistently voted against keeping rates steady. A unanimous vote would suggest the two newcomers are unlikely to rock the boat on monetary policy for the time being.

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