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☆ BOJ debated groundwork for future easy-policy exit at Oct meeting
▼ + stars: | 2023-11-09 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Staff members of Bank of Japan walk between the BOJ headquarters buildings in Tokyo, Japan September 20, 2023. The discussions highlight how the BOJ is looking to exit its decade-long accommodative regime, as prospects of sustained inflation and wage growth heighten. At the Oct. 30-31 meeting, the BOJ kept its ultra-low interest rate targets unchanged but tweaked the yield curve control (YCC) to loosen its grip on long-term interest rates. Another opinion showed how one board member saw prospects of sustainably achieving the BOJ's price target having heightened further since the previous meeting in July. The summary does not disclose the identity of the board member who made the comments.

Persons: Issei Kato, Kazuo Ueda, Leika, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, REUTERS, Bank, Japan, Thomson Locations: Tokyo, Japan, TOKYO

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsNov 10 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The three main U.S. equity indices quickly sank, and ended between 0.7% and 1% lower on the day. If Asian and emerging stocks follow Wall Street's lead, they will close the week in the red. Sentiment towards China, meanwhile, suffered another blow on Thursday after inflation figures showed that consumer prices swung lower in October. On the political front, Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Janet Yellen hold talks in San Francisco.

Persons: Jerome Powell, Kevin Lamarque, Jamie McGeever, Kazuo Ueda, Ueda, Lifeng, Janet Yellen, Yellen, Deepa Babington Organizations: Federal, Committee, Federal Reserve, REUTERS, Fed, Treasury, Traders, U.S ., Bank of Japan, ., PMI, Thomson, Reuters Locations: Washington , U.S, U.S, Tokyo, Japan, China, San Francisco, Zealand, India, Australia

☆ BOJ Ueda signals chance of exit from easy policy before real wages rise
▼ + stars: | 2023-11-08 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Bank of Japan (BOJ) Governor Kazuo Ueda attends a news conference after their policy meeting at BOJ headquarters in Tokyo, Japan April 28, 2023. "Real wages would likely have turned positive when a positive wage-inflation cycle kicks off," Ueda said. "But in terms of how long we maintain our massive monetary easing ... real wages don't necessarily have to turn positive before that decision is made," he said. "The decision (of ending ultra-loose policy) could be made if we can foresee with some certainty that real wages will turn positive ahead," Ueda told parliament. Ueda said the pass-through of rising import prices must dissipate and that wages and inflation needed to rise in tandem for the BOJ to consider exiting ultra-easy policy.

Persons: Kazuo Ueda, Issei Kato, BOJ Ueda, Ueda, YCC, Leika Kihara, Lincoln, Sam Holmes Organizations: of Japan, REUTERS, Bank of Japan, ., Thomson Locations: Tokyo, Japan, TOKYO

☆ Dollar steady as risk rally eases, RBA in focus
▼ + stars: | 2023-11-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The Australian dollar was 0.23% lower at $0.6474, but remained close to the three-month peak of $0.6523 touched on Monday. "I think the RBA will probably reiterate its tightening bias," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "But I think it's still too early to say the latest easing in the dollar will be sustained. The yen hit 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Dado Ruvic, Carol Kong, Neel Kashkari, Jerome Powell, Powell, CBA's, Sterling, Kazuo Ueda, Ankur Banerjee, Sam Holmes Organizations: REUTERS, Rights, Reserve Bank of Australia, Commonwealth Bank of Australia, New Zealand, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank of Japan, Thomson Locations: Rights SINGAPORE, Tokyo, Singapore

☆ Dollar steady as risk rally eases, Reserve Bank of Australia in focus
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: +3 min

A man walking past the Reserve Bank of Australia in the central business district of Sydney on June 7, 2022. The dollar was steady on Tuesday, holding overnight gains as investors took a breather from a risk rally, while the Australian currency drifted lower ahead of a central bank interest rates decision later in the day. All eyes in Asian hours will be on the Reserve Bank of Australia, which is widely expected to raise rates by 25 basis points, snapping four months of on hold policy decisions. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday the U.S. central bank likely has more work ahead of it to control inflation. The yen hit 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Carol Kong, Neel Kashkari, Jerome Powell, Powell, CBA's, Sterling, Kazuo Ueda Organizations: Reserve Bank of Australia, Commonwealth Bank of Australia, New Zealand, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank of Japan Locations: Sydney, Tokyo

[1/2] Dollar, Euro and Pound banknotes are seen in this picture illustration taken April 28, 2017. The euro was last up 0.27% at $1.06515, and thanks to gains earlier in the week was heading for a weekly gain of 0.8%, which would be its most since July. Sterling likewise was up 0.2% on the day at $1.2228, and set for a 0.86% weekly gain, also its most since July. Both the Aussie and the New Zealand dollars are up 1.7% for the week, their best weekly performance since again mid-July. The dollar is heading for a weekly gain of 0.25% on the franc and was last at 0.9041 francs.

Persons: Dado Ruvic, Sterling, Jerome Powell, We've, BOE, Yusuke Miyairi, Detroit's, Kazuo Ueda, Ankur Banerjee, Rae Wee, Gerry Doyle, Kim Coghill, David Evans Organizations: REUTERS, Rights, U.S . Treasury Department, Federal, Fed, Treasury, Nomura, Analysts, United Auto Workers, UAW, Bank of England, Bank of Japan, Reuters, New, Swiss, Thomson Locations: Rights SINGAPORE, LONDON, U.S, New Zealand, Singapore

☆ Dollar eases as traders bet Fed done with rate hikes
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: +3 min

United States one dollar bills are curled and inspected during production at the Bureau of Engraving and Printing in Washington. The index is on course to clock a 0.3% drop for the week, just its third week of losses since July. The European Central Bank last week snapped a streak of 10 straight rate increases, with the discussion shifting to how long the rates would stay high. The Japanese yen was 150.41 per dollar, keeping traders nervy and looking for signs of intervention from Japanese authorities. The Australian dollar eased 0.19% to $0.642, while the New Zealand dollar fell 0.24% to $0.588.

Persons: Tapas Strickland, Flavio Carpenzano, Isabel Schnabel, Kazuo Ueda, Sterling Organizations: Engraving, U.S . Federal, NAB, Investor, Analysts, Fed, ECB, Investment, Capital Group, European Central Bank, Bank of Japan, Reuters, Bank of England, New Zealand Locations: United, Washington, U.S

☆ US dollar drops to six-week low after softer-than-expected jobs data
▼ + stars: | 2023-11-03 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

[1/4] U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The index was on track for its largest one-day fall since July. The numbers for September were revised lower to show 297,000 jobs created instead of 336,000 as previously reported. Against the yen, the dollar slid 0.6% to 149.53 yen , capping a whirlwind week, in which the Japanese currency touched a one-year low against the dollar and 15-year trough against the euro. Sterling rose 1.1% versus the dollar to $1.2327, after earlier hitting a six-week high of $1.2350.

Persons: Dado Ruvic, Brad McMillan, Kazuo Ueda, Sterling, Jerome Powell, Gertrude Chavez, Dreyfuss, Chibuike Oguh, Alun John, Ankur Banerjee, Christina Fincher, Andrea Ricci Organizations: REUTERS, Sterling, Federal Reserve, Commonwealth Financial Network, Bank of Japan, Reuters, Treasury, U.S . Treasury Department, Thomson Locations: Waltham , Massachusetts, U.S, New York, London, Singapore

☆ Exclusive: BOJ plans to exit from easy policy next year but needs some good fortune
▼ + stars: | 2023-11-02 | by ( Leika Kihara | ) www.reuters.com time to read: +6 min

Ueda's intentions are based on interviews with six sources familiar with the BOJ's thinking, including government officials with direct interaction with the bank. "Given uncertainty over the economic outlook, the BOJ probably wants to wait at least until spring next year in normalising policy," said another source. If the yen continues to fall, that could heighten political pressure on the BOJ to exit sooner than it wants, some analysts say. The risk of sharp yen falls and an inflation overshoot may leave the BOJ with less time than it wants to exit. "The BOJ doesn't have much time left, a point governor Ueda is probably mindful of."

Persons: Kazuo Ueda, Ueda, Kuroda, it's, Robert Samson, Ueda hasn't, Hiromi Yamaoka, Leika Kihara, Anisha, Shri Navaratnam Organizations: Japan, Kyodo, REUTERS, Bank of Japan, Nikko Asset Management, Thomson Locations: Tokyo, Japan, BOJ, YCC, TOKYO, U.S, Bengaluru

Bank of Japan Governor Kazuo Ueda attends a press conference after its policy meeting in Tokyo, Japan October 31, 2023, in this photo taken by Kyodo. In addition, interest rate changes were asymmetric — Fed rate hikes following stock market recoveries were usually muted compared with the initial cuts. This was an explicit, open-ended policy to hold the currency at a set level and flood the Swiss economy and markets with oceans of liquidity, but essentially still a central bank put. As Marc Chandler at Bannockburn Global Forex points out, it is financial stability that is ultimately - and rightly - at the heart of the so-called central bank put. "There is a perception or myth that has built up around the central bank put.

Persons: Kazuo Ueda, Alan Greenspan, Louis, William Poole, Greenspan, Steven Englander, Marc Chandler, Chandler, Jonathan Oatis Organizations: Japan, Kyodo, REUTERS Acquire, Rights, Bank of Japan, Federal Reserve, Louis Fed, Swiss National Bank, Standard Chartered, National Bureau of Economic Research, Swiss, Reuters, Bannockburn Global, Thomson Locations: Tokyo, Japan, Rights ORLANDO , Florida, New York, Switzerland, Swiss, Bannockburn

☆ Japan’s Seven-Year Experiment in Extreme Interest-Rate Control Is Coming to an End
▼ + stars: | 2023-10-31 | by ( Megumi Fujikawa | ) www.wsj.com time to read: 1 min

The Bank of Japan acknowledged that inflation in the country is more long-lasting than it had expected. Photo: richard a. brooks/Agence France-Presse/Getty ImagesTOKYO—The Bank of Japan edged closer to a new era in which it ends the unconventional monetary easing it has long pursued, although Gov. Kazuo Ueda wasn’t ready to declare the old era over yet. The central bank said Tuesday that its 1% cap on the 10-year government bond yield would now be considered a reference rather than a hard limit. It sharply raised its price forecast, saying the inflation rate would likely stay near 3% until early 2025.

Persons: richard, Kazuo Ueda wasn’t Organizations: Bank of Japan, Agence France, Getty, The Bank of Japan Locations: TOKYO

☆ BOJ chooses slow path out of zero-rate limbo
▼ + stars: | 2023-10-31 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +4 min

REUTERS/Susana Vera Acquire Licensing RightsHONG KONG, Oct 31 (Reuters Breakingviews) - The Bank of Japan (8301.T) is taking the long road out of zero-interest rate limbo. On the face of it, BOJ Governor Kazuo Ueda and his colleagues made few policy changes at their latest meeting. The short-term interest rate remains negative, while the official yield target for 10-year Japanese government bonds is unchanged at 0%. However, the real challenge for Ueda is when to end the era of negative short-term interest rates. The BOJ’s nine-member board maintained its target for short-term interest rates of -0.1%.

Persons: Kazuo Ueda, Susana Vera, Haruhiko Kuroda, Ueda, “, Antony Currie, Thomas Shum Organizations: Japan, International Monetary Fund, World Bank, REUTERS, Reuters, Bank of Japan, U.S, Thomson Locations: Marrakech, Morocco, HONG KONG, Japan

The people who work the levers of Japan’s economy are in a bind: The country’s low interest rates, which they have long used to goose growth, are now well out of step with other big economies. The yen is at a near-record low against the U.S. dollar, threatening to inflict prolonged inflation on Japan, which for years suffered the opposite problem. On Tuesday, the central bank, the Bank of Japan, tried to thread the needle, announcing a policy that aims to nudge bond yields higher. Decisions by the Bank of Japan, led by Governor Kazuo Ueda, reverberate around the world, especially in American markets. Interest rates in the United States are well above Japan’s — yields on 10-year U.S. Treasury notes briefly pushed above 5 percent in September, a level not seen since 2007.

Persons: Kazuo Ueda Organizations: U.S ., Bank of Japan, Treasury Locations: Japan, Tokyo, reverberate, United States

☆ BOJ likely to lift inflation forecasts, debate tweak to yield cap
▼ + stars: | 2023-10-30 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The BOJ sets a target of around 0% for the 10-year yield under YCC. Since then, rising global bond yields and persistent inflation have put the BOJ in a tight spot with the 10-year JGB yield threatening to breach the 1% cap. The 10-year bond yield rose to a fresh decade high of 0.955% on Tuesday. Sources told Reuters last week the BOJ could debate further tweaks to YCC at the Oct. 30-31 meeting to relax its grip on the 10-year yield. The BOJ is widely expected to maintain the 0% target for the 10-year yield and that for short-term rates at -0.1%.

Persons: BOJ, Ueda, Ataru Okumura, Kazuo Ueda, Leika Kihara, Sam Holmes Organizations: Bank of, Nikkei, Nikko Securities, Reuters, Thomson Locations: TOKYO, Bank of Japan, Japan

☆ Bank of Japan policymakers are meeting next week. Here's what you need to know
▼ + stars: | 2023-10-27 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

Policymakers meet eight times a year to decide on the bank's monetary policy position, updating its economic outlook at every other meeting. At these meetings, the BOJ policymakers decides on its monetary policy position, which then dictates how the central bank taps the money market. To absorb funds, the Japanese central bank issues and sells bills. Here's how the Bank of Japan conducts its monetary policy. "The objective of the Bank's monetary policy is achieving price stability, which is its mission as stipulated by law.

Persons: Javier Ghersi, it's, —, Price, Kazuo Ueda Organizations: Getty Images Bank of Japan, Investors, Bank of Japan, Bank of, of, Japan Society of Monetary Locations: Japan, Tokyo, Bank of Japan

☆ Rising yields may pressure BOJ to consider raising newly set cap
▼ + stars: | 2023-10-23 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

The BOJ remains a global outlier having maintained ultra-loose monetary stimulus even as major central banks elsewhere rapidly raised interest rates to fight rampant inflation. Meanwhile, rising U.S. bond yields are pulling their Japanese counterparts higher, complicating the BOJ's task of keeping local interest rates low. Among ideas that could be discussed would be to raise the ceiling for the 10-year bond yield beyond 1.0%, or steps that water down the BOJ's commitment to defend a set yield level, the sources said. "If the 10-year JGB yield rises to around 0.9%, the BOJ may need to take action," such as by raising the 1% cap, she added. In a Reuters poll in September, most analysts said they expect the BOJ to abandon YCC by the end of 2024.

Persons: Issei Kato, BOJ, YCC, Kazuo Ueda, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Ueda, Leika Kihara, Sam Holmes Organizations: Bank of Japan, REUTERS, Treasury, Nikkei, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, YCC, Thomson Locations: Tokyo, Japan, TOKYO

☆ BOJ to release quarterly report that may offer clues on wages
▼ + stars: | 2023-10-19 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

TOKYO, Oct 19 (Reuters) - The Bank of Japan will release a regional economic report on Thursday that may offer clues on whether companies across the country will raise wages next year, and help lay the groundwork for phasing out the central bank's massive monetary stimulus. The report, due at 2 p.m. (0500 GMT), will be closely scrutinised by the central bank's nine-member board at its Oct. 30 to 31 policy meeting, which will compile fresh quarterly growth and inflation projections. The report is drawing more attention than usual this time for possible early clues on whether wage hikes will continue next year and broaden out to smaller firms. That would be seen as a key condition for the BOJ to dial back its stimulus, analysts say. The key for policymakers, however, is whether companies keep hiking wages next year, including smaller firms and across regions.

Persons: Kazuo Ueda, Ueda, Rengo, Leika Kihara, Edmund Klamann Organizations: Bank of Japan, NHK, Reuters, Thomson Locations: TOKYO, Japan

A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo, Japan, March 22, 2023. The U.S. 10-year yield has shot up 35 basis points this week, on track for its biggest weekly rise in over a decade. The 2s/10s yield curve has steepened 27 basis points, which would be the biggest weekly steepening move since March. The 10-year yield rose as high as 4.996%, a level not seen since July 2007. On the economic data front, data are expected to show Japan's annual core inflation rate was 2.7% in September, cooling from 3.1% in August.

Persons: Issei KatoFile, Jamie McGeever, Kazuo Ueda, Jerome Powell, Ueda, Josie Kao Organizations: REUTERS, Bank of Japan, People's Bank of, Federal, Netflix, Thomson, Reuters Locations: Tokyo, Japan, Treasuries, Malaysia, Hong Kong, China, People's Bank of China, Asia, U.S, Hill, East

☆ Israel and Hamas at war: Latest news
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +5 min

The United Nations World Food Programme said crucial supplies were running dangerously low in Gaza after Israel imposed a total blockade. * When Israel called up its reservists and declared war this week, the response was swift and overwhelming. [1/6]Israeli soldiers patrol following a mass-infiltration by Hamas gunmen from the Gaza Strip, in Sderot, in southern Israel, October 11, 2023. * What are global firms with a presence in Israel doing after the Hamas attack? * Israel has raised $200 million in diaspora bonds since the war with Hamas began, Israel Bonds said.

Persons: Antony Blinken, Kan, East Jerusalem's, Israel, Mahmoud Abbas, Violeta Santos Moura, Donald Trump, Netanyahu, Tayyip Erdogan, Wang Yi, Mohammed Deif, upends, Kazuo Ueda, Israel Bonds, Kristalina Georgieva, Stephen Farrell, Lisa Shumaker Organizations: Hamas, United Nations, Food Programme, West Bank, Rights Watch, Britain, Royal Navy, REUTERS, White, Republican, Bank of Japan, * Airlines, Monetary Fund, Thomson Locations: Gaza, Washington, Israel, East, East Jerusalem's Al, Aqsa, Lebanon, Egypt, Sinai, Sderot, Palestinian, Paris, Israeli, Jerusalem, Saudi, Lincoln

☆ Japan tells G20 it may need to act in FX market
▼ + stars: | 2023-10-13 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The remarks came as the yen renewed its declines against the dollar, and underscored Tokyo's resolve to keep markets on edge over the chance of exchange-rate intervention to prop up the Japanese currency. "I told the G20 meeting we need to be mindful of the risk that market volatility could heighten, including in the currency market, as monetary tightening continues globally," Suzuki told a news conference after attending a meeting of Group of 20 (G20) finance ministers and central bank governors. "I also said excess volatility in the currency market was undesirable, and that we may need to take appropriate action depending on developments," Suzuki said. The official said Tokyo stood ready to act in the currency market if market moves become too volatile. Japan last intervened in the currency market to prop up the yen in September and October last year.

Persons: Shunichi Suzuki, Susana Vera, Suzuki, Kazuo Ueda, Leika Kihara, Cynthia Osterman, David Gregorio, Marguerita Choy Organizations: International Monetary Fund, World Bank, REUTERS, Japanese Finance, . Federal Reserve, Bank of Japan, Group, Thomson Locations: Marrakech, Morocco, Tokyo, MARRAKECH, Japan

☆ Israel and Hamas at war: Latest News
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +8 min

Scores of Israeli and foreign hostages were taken back to Gaza; Israel says it has identified 97 of them. [1/6]Israeli soldiers patrol following a mass-infiltration by Hamas gunmen from the Gaza Strip, in Sderot, in southern Israel, October 11, 2023. * The war falls under a complex international system of justice that has emerged since World War Two. * International airlines have suspended hundreds of flights to and from Tel Aviv following the attack by Hamas militants on Israel. * Israel has raised $200 million in diaspora bonds since the war with Hamas began, Israel Bonds said.

Persons: Israel, Antony Blinken, Kan, Mahmoud Abbas, Wafa, Donald Trump, Netanyahu, Tayyip Erdogan, Violeta Santos Moura, Wang Yi, Mohammed Deif, upends, Kazuo Ueda, Frida, Israel Bonds, Kristalina Georgieva, Georgieva, Stephen Farrell Organizations: United Nations, Food, Palestinian, El Al Airlines, Britain, Royal Navy, U.S, REUTERS, Bank of Japan, * Airlines, Carriers, Dutch KLM, Air France, U.S . State Department, Cyprus Airways, Hamas, Monetary Fund, Thomson Locations: Gaza, Washington, Israel, Egypt, Sinai, United States, Asia, Israeli, Palestinian, Sderot, Paris, Jerusalem, Saudi, Europe, Larnaca, Tel Aviv

☆ Japan to chair G7 finance ministers meeting at IMF conference on Oct 12
▼ + stars: | 2023-10-10 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +1 min

Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, Saturday, May 13, 2023. Shuji Kajiyama/Pool via REUTERS/File Photo Acquire Licensing RightsTOKYO, Oct 10 (Reuters) - Japan will chair a meeting of finance ministers and central bank governors from the Group of Seven (G7) advanced nations on Oct. 12 to discuss the war in Ukraine and the world economy, Finance Minister Shunichi Suzuki said on Tuesday. The G7 meeting will be part of a broader Group of 20 gathering, Suzuki told reporters that will be held on the sidelines of the annual International Monetary Fund conference in the Moroccan city of Marrakech. The G7 meeting will also include roundtable talks with African nations to facilitate flows of private-sector funds to the continent, Suzuki said. Reporting by Tetsushi Kajimoto; Editing by Christian Schmollinger and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Shunichi Suzuki, Shuji, Suzuki, Kazuo Ueda, Tetsushi Kajimoto, Christian Schmollinger Organizations: Toki, Rights, Finance, International Monetary Fund, Marrakech . Bank of Japan, Thomson Locations: Niigata, Japan, Ukraine, Moroccan, Marrakech

☆ Japan’s inertia leaves yen at the mercy of the Fed
▼ + stars: | 2023-10-05 | by ( Francesco Guerrera | ) www.reuters.com time to read: +4 min

A man looks at an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average outside a brokerage in Tokyo, Japan October 4, 2023. The debate, though, ignores the bigger issue: Surging U.S. bond yields and Japan’s ultra-low interest rates, though, will keep the yen under pressure. Until it tightens monetary policy, Japan will have to live with an exchange rate driven by Washington. Until Tokyo regains control of its monetary levers, it will have to live with a foreign exchange rate driven by U.S. whims. The greenback then fell back to as low as 147.30, sparking speculation that Japanese monetary officials had intervened to prop up the currency.

Persons: Issei Kato, Kazuo Ueda, Ueda, Antony Currie, Oliver Taslic Organizations: U.S ., Nikkei, REUTERS, Reuters, Bank of Japan, Reuters Graphics, Federal Reserve, Bank of, Thomson Locations: Tokyo, Japan, Washington

☆ BOJ discussed factors for exiting easy policy at Sept meeting; 10-yr JGBs falter
▼ + stars: | 2023-10-02 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. Under yield curve control (YCC), the BOJ guides short-term interest rates at -0.1% and the 10-year bond yield around zero. A Reuters poll in September forecast that the central bank will end its negative interest rate policy some time next year and YCC by end of 2024. “Even if the BOJ were to terminate its negative interest rate policy, this can be considered as continuation of monetary easing if real interest rates remain negative. But he has also said the BOJ will consider an exit when sustained, stable achievement of its price target is in sight.

Persons: Issei Kato, Kazuo Ueda’s, Governor Ueda, Ueda Organizations: Bank of Japan, REUTERS, Reuters, Bank Locations: TOKYO, Tokyo, Japan, YCC

☆ BOJ increases Wednesday's bond purchase as 10-year JGB yields hit decade peak
▼ + stars: | 2023-10-02 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

A pedestrian walks past the Bank of Japan (BoJ) building in central Tokyo on July 28, 2023. Richard A. Brooks | Afp | Getty ImagesThe Bank of Japan announced it's increasing its bond purchases at Wednesday's auction, as a spike in government bond yields tests its resolve to defend its yield curve control policy. Yields on 10-year Japanese government bonds hit as much as 0.775% Monday, its highest since September 2013 and nearing the BOJ's hard 1% cap. The Japanese yen shed nearly 0.3% to about 149.73 yen against the dollar, nearing the 150 yen level that prompted BOJ intervention last year. Hawkish comments in the minutes of a lively BOJ September policy meeting released earlier Monday reignited expectations the BOJ is slowly laying the groundwork for the end to negative interest rates.

Persons: Richard A, Brooks, it's, BOJ, Hawkish, Kazuo Ueda's, Ueda's Organizations: Bank of Japan, Afp, Getty, of Japan Locations: Tokyo

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