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☆ Bank of Japan likely to stay course with a rate hike in December or January, analysts say
▼ + stars: | 2024-11-01 | by ( Lin Lin | ) www.cnbc.com time to read: +4 min

After a messy election, the Bank of Japan decided to hold its benchmark policy rate at 0.25%, as expected. These outlook risks highlight that the timing of the next BOJ rate hike could depend heavily on developments overseas, as well as the exchange rate and its impact on the Japanese economy, Otani added. He added that it would surpass the 13 trillion yen ($84.6 billion) allocated in last year's supplementary budget. When Ishiba returns, he is expected to hold an extraordinary Diet session, during which he hopes to pass the supplementary budget plan, according to local news. Then I would probably rule out a rate hike in December, because that would create a lot of uncertainty about the fiscal situation."

Persons: Kazuo Ueda, Stefan Angrick, Angrick, Akira Otani, Goldman Sachs, Otani, Marcel Thieliant, Shigeru Ishiba, Ishibia, Ishiba, Thieliant Organizations: Japan, Bank of Japan, Moody's, Liberal Democratic Party, Asia Pacific, Capital Economics, CNBC, Democratic Party Locations: Tokyo, Japan, Brazil

☆ Yen wobbles, vulnerable to political reverberations
▼ + stars: | 2024-10-25 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen banknotes of various denominations are arranged for a photograph in Tokyo, Japan, on July 22, 2015. The yen was last 0.1% lower at 152 per dollar and was looking at a 1.5% loss for the week. The yen has fallen roughly 5.5% for the month thus far, setting it up for its worst monthly decline since April 2022. Against the dollar, the euro last bought $1.08225, some distance away from its low of $1.076125 hit earlier this week. The dollar index last ticked up 0.04% to 104.09, after having scaled a roughly three-month high of 104.57 earlier in the week.

Persons: Ray Attrill, Katsunobu Kato, Janet Yellen, Donald Trump, Nick Rees, Sterling Organizations: of Japan's, Treasury, Liberal Democratic Party, LDP, National Australia Bank, country's Finance, FX, Monex, New Zealand Locations: Tokyo, Japan, Japanese, Germany —

☆ Goldman: Expect the Bank of Japan to upgrade their inflation outlook
▼ + stars: | 2024-07-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman: Expect the Bank of Japan to upgrade their inflation outlookTomohiro Ota, Senior Japan Economist at Goldman Sachs, discusses the Bank of Japan's monetary policy decision this week.

Persons: Goldman, Tomohiro Ota, Goldman Sachs Organizations: Bank of Japan, Senior Japan, Goldman, Bank

☆ Yen weakness: Japanese consumers are 'feeling the pain,' economist says
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYen weakness: Japanese consumers are 'feeling the pain,' economist saysNorihiro Yamaguchi, senior Japan economist at Oxford Economics, discusses the challenge that the Bank of Japan faces when it comes to interest rates.

Persons: Norihiro Yamaguchi Organizations: Oxford Economics, Bank of Japan Locations: Japan

☆ Goldman Sachs now expects the Bank of Japan to hike rates Tuesday
▼ + stars: | 2024-03-18 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Goldman Sachs now expects the Bank of Japan to raise interest rates for the first time in 17 years at its March meeting this week, bringing forward its previous forecast for an April decision. Ota said he expects the BOJ to abolish its yield curve control policy, which the central bank employs to target longer-term interest rates, by buying and selling bonds as necessary. Still, he expects the central bank will "not explicitly commit" to the size of its Japanese government bond purchases or the cessation of its ETF purchases. While the central bank has effectively loosened its yield curve control policy over longer term interest rates over the past 16 months, it has kept interest rates at -0.1% and still maintains an upper limit for 10-year Japanese government bond yield at 1% as a reference. While BOJ Governor Kazuo Ueda meets with his other eight board members eight times a year, the central bank updates its economic outlook only four times: in January, April, July and October.

Persons: Goldman Sachs, Tomohiro Ota, Ota, Kazuo Ueda Organizations: Bank of Japan Locations: Ueno Park, Tokyo, Japan

☆ Wage growth in Japan is a good milestone for sustainable inflation, says Tomohiro Ota
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWage growth in Japan is a good milestone for sustainable inflation, says Tomohiro OtaTomohiro Ota, Senior Japan Economist at Goldman Sachs, discusses how wage hikes by several companies impacts the Bank of Japan and equities.

Persons: Tomohiro Ota Tomohiro, Goldman Sachs Organizations: Senior Japan, Goldman, Bank of Japan Locations: Japan, Tomohiro Ota Tomohiro Ota

☆ 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

☆ 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

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Traders have been on watch for weeks for a possible intervention by Japanese officials to combat a sustained depreciation in the yen. "It could just be people expecting intervention and then reacting to what they believed to be intervention," said Asher. To support the Japanese currency, authorities need to tap Japan's foreign reserves of dollars to sell for yen. A senior Japanese ministry of finance official declined to comment on whether Japan had intervened in foreign exchange markets.

Persons: Florence Lo, Michael Brown, Brown, Colin Asher, Asher, Niels Christensen, Jeremy Stretch, Edward Moya, Stretch, Tuesday's, Chuck Mikolajczak, Samuel Indyk, Saqib Iqbal Ahmed, Gertrude Chavez, Dreyfuss, Dhara Ranasinghe, Lucy Raitano, Ira Iosebashvili, Megan Davies, Jonathan Oatis, Andrea Ricci, Hugh Lawson, Gareth Jones Organizations: U.S, REUTERS, Trader, Mizuho, Nordea, Bank of Japan, New York Federal Reserve, CIBC Capital Markets, Ministry, Finance, Seven, Japan, Thomson Locations: TOKYO, London, Copenhagen, Japan, U.S, Tokyo, Asia, New York, United States

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The dollar fell as low as 147.30 yen versus the Japanese currency, after hitting a one-year high of 150.165. Tuesday's low in the dollar was its weakest level in three weeks versus the Japanese currency. The euro dropped to a roughly two-month low against the yen of 154.39 yen and was last down 0.7% to 155.99. That earlier drove the dollar higher as real interest rates factor in inflation.

Persons: Florence Lo, Shunichi Suzuki, Colin Asher, Sterling, Marc Chandler, Jeremy Stretch, JGB, Herbert Lash, Gertrude Chavez, Dreyfuss, Lucy Raitano, Joice Alves, Marguerita Choy, Sharon Singleton Organizations: U.S, REUTERS, Japan, Japanese Finance, New York Federal Reserve, Mizuho, Bannockburn Global, U.S . Labor, Labor, Survey, CIBC Capital Markets, UST, Federal Reserve, Reserve Bank of Australia's, Swiss, Thomson Locations: Japan, London, Bannockburn, New York

REUTERS/Jonathan Ernst Acquire Licensing RightsOct 4 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Japanese yen? Japanese stocks had already slumped to a four-month low before the yen's sudden burst of strength. Purchasing managers index reports from Japan, Australia and South Korea will be released, and the Reserve Bank of New Zealand announces its latest interest rate decision on Wednesday. The RBNZ is widely seen holding its key interest rate at 5.50% - the highest in nearly 15 years - and keep it there at least until March before lowering it shortly after.

Persons: Kevin McCarthy, McCarthy's, Jonathan Ernst, Jamie McGeever, Bond, Bill Gross, Fed's Schmid, Bowman, Goolsbee, Josie Kao Organizations: U.S, Capitol, REUTERS, New York Fed, Nikkei, Reserve Bank of New Zealand, Thomson, Reuters Locations: Washington , U.S, Japan, Washington, Swiss, U.S, Asia, Australia, South Korea, Zealand, Korea

Ambassador to Japan Rahm Emanuel, accompanied by U.S. Secretary of State Antony Blinken (not pictured), speaks at the U.S. The ambassador, Rahm Emanuel, has always spoken in "a colorful manner," said Matthew Miller, restraining a smile, although he declined to say whether Emanuel's comments had been cleared by the State Department. "I would guess that the Chinese government views Ambassador Emanuel's remarks as authoritative and deliberate signaling. I doubt that's the case," said Bonnie Glaser, a China expert at the German Marshall Fund of the United States. All of that suggests that the administration is unlikely to rein in its Japan ambassador.

Persons: Japan Rahm Emanuel, Antony Blinken, Andrew Harnik, Rahm Emanuel, Matthew Miller, Emanuel, Agatha Christie's, Qin Gang, Li Shangfu hasn't, Li, Xi Jinping, Joe Biden, Obama, Emanuel's, Bonnie Glaser, Biden, Rahm, AMBASSADOR Emanuel, Bill Clinton, Barack Obama's, Laquan McDonald, Fumio Kishida, Yun Sun, He's, Humeyra Pamuk, David Brunnstrom, Michael Martina, Trevor Hunnicutt, Patricia Zengerle, Timothy Kelly, Don Durfee, Rosalba O'Brien Organizations: U.S, Ambassador's, WASHINGTON, . State Department, State Department, Foreign, Rocket Force, Defense, Reuters, German Marshall Fund of, CHINA U.S, AMBASSADOR, Obama, House, West Wing, China Program, Stimson, Biden, Thomson Locations: Japan, Tokyo, TOKYO, Washington, Britain, China, United States, Beijing, U.S, CHINA, Chicago

☆ Analysis-China's economic gloom hangs over Japan's long-awaited recovery
▼ + stars: | 2023-09-06 | by ( Tetsushi Kajimoto | Leika Kihara | ) www.reuters.com time to read: +5 min

TOKYO (Reuters) - Policymakers in Tokyo believe China’s deepening economic woes could hit Japan’s fragile recovery, especially if Beijing fails to shore up demand with meaningful stimulus, potentially delaying an exit from ultra-loose monetary policy. China is Japan’s largest trading partner, accounting for 20% of its exports, having replaced the United States in 2020. “Exports to China had already been weak and headwinds to inbound tourism are clearly bad for Japan’s economy,” said Toru Suehiro, chief economist at Daiwa Securities. Firms also promised wage hikes unseen in three decades this year, heightening the case for a retreat from decades of ultra-loose monetary policy. The darkening outlook for Japan’s recovery may push back the timing of a BOJ policy shift.

Persons: Marko Djurica, Kazuo Ueda’s, ”, Hiroyuki Ogawa, Ogawa, Takeshi Niinami, Toru Suehiro, Ueda, Toyoaki Nakamura, “, Seisaku Kameda Organizations: REUTERS, Bank of Japan’s, Reuters, Japan, Komatsu Ltd, Komatsu, Suntory Holdings, Daiwa Securities, Japan’s Sompo Holdings Locations: TOKYO, Tokyo, Beijing, Japan, United States, China

Elsewhere in Asian FX markets, China's yuan slid to a 10-month low on Wednesday through 7.32 per dollar and is a whisker from plumbing depths not recorded since late 2007. Investors could get further reminders on the currency's vulnerability from Chinese trade and FX reserves figures on Thursday. Chinese trade has been one of the biggest economic red flags this year. Beijing's nominal FX reserves have risen this year, even as the nominal value of Beijing's holdings of U.S. Treasuries has fallen to a 14-year low. Here are key developments that could provide more direction to markets on Thursday:- China trade (August)- Malaysia interest rate decision- Australia trade (August)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Jamie McGeever, Treasuries, Josie Kao Organizations: REUTERS, FX, Asian FX, Reuters, Thomson Locations: Shanghai, China, India, Japan, Asian, Beijing, U.S, Malaysia, Australia

In a sign of growing pessimism over China, the government also said its monthly economic report for August that "concern over China's outlook" was among risks to Japan's recovery. "Exports to China had already been weak and headwinds to inbound tourism are clearly bad for Japan's economy," said Toru Suehiro, chief economist at Daiwa Securities. "All in all, it's hard to justify tightening monetary policy any time soon." Firms also promised wage hikes unseen in three decades this year, heightening the case for a retreat from decades of ultra-loose monetary policy. The darkening outlook for Japan's recovery may push back the timing of a BOJ policy shift.

Persons: Marko Djurica, Kazuo Ueda's, Hiroyuki Ogawa, Ogawa, Takeshi Niinami, Toru Suehiro, Ueda, Toyoaki Nakamura, Seisaku Kameda, Tetsushi Kajimoto, Sam Holmes Organizations: REUTERS, Bank of Japan's, Reuters, Japan, Komatsu Ltd, Komatsu, Suntory Holdings, Daiwa Securities, Japan's Sompo Holdings, Thomson Locations: Tokyo, Japan, China, TOKYO, Beijing, United States

☆ Japan ex-PM Aso's 'fight for Taiwan' remark in line with official view, lawmaker says
▼ + stars: | 2023-08-10 | by ( Kantaro Komiya | Thomson Reuters | Kantaro Writes About Everything Japan'S Economic Indicators To North Korea'S Missiles To Global Regulation On Ai Companies. His Previous Stories Have Been Published In The Associated Press | ) www.reuters.com time to read: +2 min

Japan's Former Prime Minister and current Vice-President of the ruling Liberal Democratic Party, Taro Aso, speaks during the Ketagalan Forum in Taipei, Taiwan August 8, 2023. Aso's speech angered China, which claims Taiwan as its territory. Keisuke Suzuki, an LDP lawmaker who accompanied Aso's Taiwan visit this week, told the BS Fuji talk show on Wednesday that Aso had discussed the issue with Japanese government officials, indicating that Aso's view did not deviate from the official position. "The comment was not lawmaker Taro Aso's personal remark, but a result of arrangements with government insiders", Suzuki said. Aso's visit, which marked the most senior Japanese political official to visit Taiwan since 1972, when Japan normalised diplomatic relations with China, came as tensions have risen over democratically governed Taiwan amid China's increasing military pressure on the island during the past three years.

Persons: Taro Aso, Carlos Garcia Rawlins, Taro Aso's, Aso, Keisuke Suzuki, Aso's, Suzuki, Joe Biden, White, Hirokazu Matsuno, Kantaro Komiya, Gerry Doyle Organizations: Liberal Democratic Party, REUTERS, Japanese, Beijing, Fuji, United, Taiwan, Thomson Locations: Taipei, Taiwan, TOKYO, Japan, United States, China, Aso's Taiwan, U.S

Japan's Former Prime Minister and current Vice-President of the ruling Liberal Democratic Party, Taro Aso, speaks during the Ketagalan Forum in Taipei, Taiwan August 8, 2023. "I believe that now is the time for Japan, Taiwan, the United States and other like-minded countries to be prepared to put into action very strong deterrence," he said in remarks streamed online. He added that clearly showing the will to defend Taiwan was a form of deterrence. Aso is the most senior Japanese political official to visit Taiwan since 1972. In 2021, Aso, then deputy prime minister, called any invasion of Taiwan by China a "threat to Japan's survival" and said Japan and the U.S. would defend Taiwan together should such an incident happen.

Persons: Taro Aso, Carlos Garcia Rawlins, Aso, Japan's, Tsai Ing, Tsai, Sakura Murakami, Satoshi Sugiyama, Kantaro, Ben Blanchard, Chang, Ran Kim, Gerry Doyle Organizations: Liberal Democratic Party, REUTERS, Japanese, Thomson Locations: Taipei, Taiwan, Japan, United States, Taiwan Strait, China, U.S, TOKYO

☆ Ukraine is proving it can kill Russia's most valuable officers even when they think they are safe
▼ + stars: | 2023-07-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Ukraine killed a senior Russian officer in a long-range missile strike this week. Lt Gen Oleg Tsokov is the latest in a series of senior Russian officers killed in Ukraine. The blast hit a hotel housing Russian officers in the occupied city of Berdiansk, far from the front lines. The recent acquisition of Storm Shadow missiles means Ukraine can reach Russian top brass in places that used to be safe. The missiles have a range of 150 miles, almost triple that of the missiles Ukraine was previously using.

Persons: Gen Oleg Tsokov, Russia's, Ian Williams, Williams, Stanislav Rzhitsky, Rzhitsky, Sergei Surovikin, Wagner Organizations: Service, Russian, Shadow, Nikkei, Center for Strategic, International Studies, Storm Locations: Ukraine, Russian, Wall, Silicon, Berdiansk, Donetsk, Luhansk, Russia, Russia's, Krasnodar

TOKYO, May 17 (Reuters) - Rich nations should boost financial and technical support to poorer countries to help them tackle climate change and achieve similar decarbonisation goals, a senior Japanese environment ministry official said ahead of a G7 summit in Hiroshima. Developed countries promised in 2009 to transfer $100 billion annually between 2020 and 2025 to vulnerable states hit by increasingly severe climate-linked impacts and disasters - but that target was never met. G7 energy and climate ministers discussed how to meet that goal when they met in the Japanese city of Sapporo last month. "All countries should follow the good example of Japan so that we could achieve the $100 billion goal," he said, adding that he hoped that the level would be achieved as soon as possible and maintained through 2025. Developing countries say they need far more support than that from the rich nations, who are responsible for most of the greenhouse gas emissions, otherwise they cannot afford to cut CO2 emissions.

☆ Japan, China meet to discuss maritime concerns as Beijing simulates attack on Taiwan
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TOKYO, April 10 (Reuters) - Senior Japanese and Chinese government officials met on Monday to discuss maritime concerns in disputed waters in the East China Sea as Beijing conducted wargames around Taiwan. Prior to the start of the talks, a top Japanese government spokesperson said Japan has been following China's military drills around Taiwan consistently and "with great interest". Beijing considers Taiwan as a part of China and regards meetings between senior U.S. and Taiwanese officials as interference in its internal affairs. He also asked Japan to pull its ships back from the seas around islands in the East China Sea claimed by both countries. China and Japan last month established a military communications hotline to help them defuse any air and sea incidents in the contested waters.

The summit is the same week as major South Korea-U.S. military drills that routinely anger Pyongyang, and North Korea has already staged multiple missile launches - a backdrop for the message that Japan, South Korea and the United States need to close ranks. In November South Korea and Japan agreed to exchange real-time intelligence on North Korea's missile launches, which experts say will help both countries better track potential threats. "South Korea is already taking a side and entering the Cold War," said Kim Joon-hyung, a former chancellor of the Korean National Diplomatic Academy. Yoon said high-tech cooperation on supply chains between Japan and South Korea would contribute significantly to economic security. 'SHARED INTERESTS'Washington had pressed for reconciliation, but a State Department spokesperson said the recent arrangements were the result of bilateral discussions between Japan and South Korea.

☆ Bank of Japan keeps low rates as Kuroda sticks to script at swan song meeting
▼ + stars: | 2023-03-10 | by ( ) edition.cnn.com time to read: +4 min

At its two-day meeting that ended on Friday, the BOJ maintained its short-term interest rate target at -0.1% and that for the 10-year bond yield around 0%. It also left unchanged a band set around the 10-year yield target that allows the yield to rise up to 0.5%. “The decision to uphold policy rates comes at a cost. Many investors expect the central bank to phase out YCC when Kuroda’s successor, Kazuo Ueda, takes the helm in April. “The BOJ will likely abandon its 10-year bond yield target, while maintaining negative interest rates, to arrest distortions in the yield curve,” he said.

☆ G7 finance chiefs to meet on Feb 23 to discuss measures against Russia
▼ + stars: | 2023-02-21 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

Japan will chair the meeting of finance ministers and central bank governors from the G7 nations in the Indian city of Bengaluru. The meeting will come almost a year since Russia invaded Ukraine, calling it a "special military operation". The war has raged on despite a slew of punitive measures G7 and other countries have taken against Russia. Japan chairs G7 ministerial meetings this year in the run-up to the May 19-21 summit meeting of G7 leaders in Hiroshima. The Ukraine war and the global economy are expected to be the focus of the G20 talks.

☆ Amazon planning standalone app for sports content - The Information
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: 1 min

Japan lawmaker says TSMC is considering second plant in Japan, article with imageTechnology category · December 23, 2022A senior Japanese lawmaker said on Friday that Taiwan Semiconductor Manufacturing Co , the world's largest contract chip maker, is considering building a second plant in Japan in addition to an $8.6 billion dollar facility now under construction.

☆ Japan lawmaker says TSMC is considering second plant in Japan
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 23 (Reuters) - A senior Japanese lawmaker said on Friday that Taiwan Semiconductor Manufacturing Co (2330.TW), the world's largest contract chip maker, is considering building a second plant in Japan in addition to an $8.6 billion dollar facility now under construction. "I believe TSMC is looking into further investments in Japan. TSMC said in an emailed statement that it did not rule out any possibility for Japan but there were no concrete plans at the moment. The Taiwanese company is building a chip plant in southern Japan, with Sony Group Corp (6758.T) and auto parts maker Denso Corp (6902.T) each taking a minority stake. "Technological innovation is fierce in the semiconductor industry," Seki said.

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