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☆ Russia's war on Ukraine latest: Putin gives nuclear warning, Biden rallies allies
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +3 min

[1/7] Russia's President Vladimir Putin takes part in an event marking Gazprom's 30th anniversary, via video link at a residence outside Moscow, Russia February 17, 2023. Feb 21 (Reuters) - Russian President Vladimir Putin on Tuesday delivered a nuclear warning to the West over Ukraine, suspending a bilateral nuclear arms control treaty, announcing new strategic systems were on combat duty and warning that Moscow could resume nuclear tests. DIPLOMACY* "One year ago, the world was bracing for the fall of Kyiv," Biden said at Warsaw's Royal Castle. "I can report: Kyiv stands strong, Kyiv stands proud, it stands tall and, most important, it stands free." * A year on from Russia's invasion, Ukraine and its government have not just survived.

☆ Russia's war on Ukraine latest: Putin gives nuclear warning after Biden's Kyiv visit
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +4 min

[1/6] Russia's President Vladimir Putin takes part in an event marking Gazprom's 30th anniversary, via video link at a residence outside Moscow, Russia February 17, 2023. Feb 21 (Reuters) - Russian President Vladimir Putin on Tuesday delivered a nuclear warning to the West over Ukraine, suspending a bilateral nuclear arms control treaty, announcing new strategic systems were on combat duty and warning that Moscow could resume nuclear tests. U.S. President Joe Biden, fresh from pledging support for Ukraine on an unannounced visit to Kyiv, was due to rally NATO allies in Warsaw, making his case for a sustained Western effort to ensure Kyiv wins the war. * The United States and Ukraine's President Zelenskiy warned China against supporting Russia. * Financial leaders of the Group of Seven (G7) will meet on Thursday to discuss measures against Russia that will put pressure on it to end the Ukraine war, Japan's Finance Minister Shunichi Suzuki said.

☆ Japan warns of dire finances as BOJ struggles to contain yields
▼ + stars: | 2023-01-23 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

It is not unusual for the finance minister to refer to Japan's strained finances. The Ministry of Finance estimates that every 1-percentage-point rise in interest rates would boost debt service by 3.7 trillion yen to 32.5 trillion yen for the 2025/2026 fiscal year. "Overall JGB issuance, including rolling over bonds, remain at an extremely high level worth about 206 trillion yen. We must secure fiscal space under normal circumstances to safeguard trust in Japan and people's livelihood at a time of emergency." LABOUR REFORMPrime Minister Fumio Kishida echoed Suzuki's resolve to revive the economy and tackle fiscal reform.

☆ Japan finmin warns of severe finances as BOJ struggles to contain yields
▼ + stars: | 2023-01-23 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

The Ministry of Finance estimates that every 1-percentage-point rise in interest rates would boost debt service by 3.7 trillion yen ($29 billion) to 32.5 trillion yen ($251 billion) for the 2025/2026 fiscal year. "The government will strive to stably manage Japanese government bond (JGBs) issuance through close communication with the market," he said. "Overall JGB issuance, including rolling over bonds, remain at an extremely high level worth about 206 trillion yen ($1.6 trillion). We must secure fiscal space under normal circumstances to safeguard trust in Japan and people's livelihood at a time of emergency." lABOUR REFORMPrime Minister Fumio Kishida echoed Suzuki's resolve to revive the economy and tackle fiscal reform.

☆ Japan's finance minister warns of severe finances as BOJ struggles to contain yields
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: +1 min

Morning commuters in front of the Bank of Japan headquarters in Tokyo, Japan, on Jan. 16, 2023. Japan's finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt. Japan's public debt is more than double its annual economic output, by far the heaviest burden in the industrialized world. The government has been helped by near-zero bond yields, but bond investors have recently sought to break the Bank of Japan's (BOJ) 0.5% cap on the 10-year bond yield, as inflation runs at 41-year highs, double the central bank's 2% target. "Japan's public finances have increased in severity to an unprecedented degree as we have compiled supplementary budgets to respond to the coronavirus and similar issues," Suzuki said in a policy speech starting a session of parliament.

☆ Academic close to Japan's Kuroda says BOJ moving towards policy normalisation
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

Kuroda said then that the move was not a prelude to an exit from ultra-loose policy, because recent price rises meant Japan's inflation-adjusted, real interest rate had been declining. Japan's annual consumer inflation rate hit 2.8% in November even when excluding the effect of higher energy and food prices. "That would be an ideal initial condition for the BOJ to start hitting its inflation target on a more sustainable basis," Ito said. Ito and Kuroda, who have been close since working together at Japan's finance ministry in 1999-2001, lobbied hard for the BOJ to adopt a 2% inflation target to end deflation. The BOJ did so in early 2013 and deployed a massive stimulus programme when Kuroda became governor months later.

☆ Japan auto lobby opposes plan to tax mileage of electric vehicles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 17 (Reuters) - A Japanese automobile lobbying group "firmly opposes" a plan for mileage tax on electric vehicles (EVs), an official of the group said on Thursday, adding that it would slow electrification efforts. "We are firmly opposed to the hasty introduction of measures such as a mileage tax without public discussion," said Seiichi Nagatsuka, vice chair of the Japan Automobile Manufacturers Association. Suzuki said EVs, unlike gasoline vehicles, are not taxed at the driving stage through fuel taxation. He added that EVs are heavier than gasoline-powered vehicles, which have a large role in road damage. Speaking at a news conference, Nagatsuka called for extending tax breaks on low-emission cars to spur electrification as consumers battle inflation and endure longer waiting times for delivery their vehicles.

☆ Japan auto lobby opposes plan for mileage tax on electric vehicles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 17 (Reuters) - A Japanese automobile lobbying group "firmly opposes" a plan for mileage tax on electric vehicles, an official of the group said on Thursday, adding that it would slow electrification efforts. "We are firmly opposed to the hasty introduction of measures such as a mileage tax without public discussion," said Seiichi Nagatsuka, vice chair of the Japan Automobile Manufacturers Association. Japan's Finance Minister Shunichi Suzuki floated the plan among the ideas he mentioned in a parliamentary debate last month to tackle a severe financial situation. Reporting by Satoshi Sugiyama; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar eases on improved risk sentiment before Fed; Aussie pares gains after RBA
▼ + stars: | 2022-11-01 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

"Our general sense is that the dollar probably has peaked, but that doesn't necessarily mean it's coming down." The Aussie gained 0.3% to $0.6416, but was off earlier highs after the RBA opted for another 25-bp hike. The Fed is widely expected to raise its benchmark rate by 75 bps on Wednesday, its fourth such increase in a row. But for the December meeting, Fed funds futures are split on the odds of a 75- or 50-bps increase. read moreReporting by Kevin Buckland; Editing by Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar retreats amid better risk sentiment ahead of Fed; Aussie rallies before RBA
▼ + stars: | 2022-11-01 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

The risk-sensitive Australian and New Zealand dollars rose from one-week lows amid a broad lift in market sentiment, even as a Reserve Bank of Australia policy decision loomed. "Our general sense is that the dollar probably has peaked, but that doesn't necessarily mean it's coming down." But for the December meeting, Fed funds futures are split on the odds of a 75- or 50-bps increase. For the RBA, another 25 basis point hike is fully priced for 0330 GMT, but markets also lay better than 1-in-4 odds for a half point increase. read moreThe Bank of England is likely to deliver a 75-basis point hike on Thursday.

☆ Asia stocks edge up as investors eye Fed rate decision
▼ + stars: | 2022-11-01 | by ( Julie Zhu | ) www.reuters.com time to read: +2 min

The central bank is all but certain to raise interest rates by 75 basis points on Wednesday, but investors will look for any signals the Fed may be considering a deceleration in interest rate hikes in the future. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.7%. Australian shares (.AXJO) were up 0.65% with the mining index (.AXMM) leading the gains, while Japan's Nikkei stock index (.N225) rose 0.95%. Hopes the Fed may pull back from its aggressive interest rate hike policy have lifted U.S. equities last month withthe Dow jumping 13.95%, the S&P climbing 7.99% and the Nasdaq advancing 3.9%. In the energy market, oil prices fell as investors expected U.S. production could increase.

☆ Dollar retreats amid better risk sentiment ahead of Fed; Aussie rallies
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: +2 min

The risk-sensitive Australian and New Zealand dollars rose from one-week lows amid a broad lift in market sentiment, even as a Reserve Bank of Australia policy decision loomed. "Our general sense is that the dollar probably has peaked, but that doesn't necessarily mean it's coming down." The Fed is widely expected to raise its benchmark overnight interest rate by 75 bps on Wednesday, its fourth such increase in a row. But for the December meeting, Fed funds futures are split on the odds of a 75- or 50-bps increase. Against the yen , the greenback weakened 0.26% to 148.35.

☆ Stocks fall, bond yields rise as focus shifts to Fed, rate outlook
▼ + stars: | 2022-10-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

The Fed, which begins its two-day meeting Tuesday, is expected to deliver a fourth straight 75-basis-point rate hike on Wednesday in its attempt to tame inflation. The pan-European STOXX 600 index (.STOXX) rose 0.35% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.44%. read moreKey food and energy prices drop after initial panicGRAINS REPORTIn currencies, the dollar rose 0.8% against the struggling yen to 148.62 yen . Brazil's currency and main stock index rallied Monday, a day after leftist Luiz Inacio Lula da Silva won the country's presidential election. The Bovespa stock index (.BVSP) sank 2% at the opening and ended the session up 1.3%.

☆ U.S. dollar rises as Fed likely doing another big hike; sterling sinks
▼ + stars: | 2022-10-31 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. In afternoon trading, the dollar rose 0.8% against the struggling yen to 148.62 yen . For the month of October, the dollar was up 2.7%, on track to post its third monthly gain versus the Japanese currency. Generally, the dollar is somewhere in the bend - trying to establish a high, but has not generally done so. The greenback, however, was on pace for a monthly decline of 0.5% in October, based on the dollar index.

☆ Japan's extra budget for stimulus package to exceed $198 bln -NHK
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kim Kyung-HoonTOKYO, Oct 27 (Reuters) - Japan's upcoming economic stimulus package is expected to include an extra budget of more than 29 trillion yen ($198 billion), far exceeding a previous estimate, national broadcaster NHK reported on Thursday. Only a day earlier, Japanese media had reported the government was set to spend about 25 trillion yen on the stimulus package, aimed at easing the pain from rising energy and other living costs. Japan's public debt is already the biggest among major economies at twice the size of its economy. The extra spending, which is likely to be finalised on Friday, is expected to be partially funded by additional debt issuance, raising concerns over Japan's fiscal discipline. Asked about the raised spending estimate and its implications, Suzuki said work was still ongoing to reach a final decision on Friday.

☆ Japan extra budget for stimulus package to exceed $198 bln -NHK
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] Japan's Finance Minister Shunichi Suzuki speaks at a news conference after Japan intervened in the currency market for the first time since 1998 to shore up the battered yen in Tokyo, Japan September 22, 2022. REUTERS/Kim Kyung-HoonTOKYO, Oct 27 (Reuters) - Japan's upcoming economic stimulus package is expected to entail an extra budget of more than 29 trillion yen ($198 billion), far exceeding a previous estimate, national broadcaster NHK reported on Thursday. Only a day earlier, Japanese media had reported that the government was set to spend about 25 trillion yen on the stimulus package, aimed at easing the pain from rising energy and other living costs. Lawmakers from the ruling Liberal Democratic Party objected to the lower estimate, prompting Prime Minister Fumio Kishida and Finance Minister Shunichi Suzuki to meet on Wednesday evening to review the plan, NHK reported. ($1 = 146.3200 yen)Reporting by Mariko Katsumura and Chang-Ran Kim; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ BOJ easing and govt FX intervention not contradictory - finmin Suzuki
▼ + stars: | 2022-10-25 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

"Monetary easing aimed at sustainable and stable price hikes including wage growth, and currency intervention in response to excessive market moves, are different in terms of policy objectives, and thus they are not contradictory," Suzuki said. Japanese authorities are in constant touch with U.S. counterparts and stand ready to take appropriate action in the currency market against volatile yen moves, Suzuki said. The minister repeated that the government would not tolerate excessively volatile yen moves driven by speculative trading. "If we leave unattended sharply volatile currency moves, driven by speculative trading, that would affect companies and households," Suzuki said. Japanese authorities are in constant touch with U.S. counterparts and stand ready to take appropriate action in the currency market against volatile yen moves, Suzuki said.

☆ Japan intervened, buying yen in foreign exchange market late Friday: Reuters, citing sources
▼ + stars: | 2022-10-22 | by ( ) www.cnbc.com time to read: +1 min

Japan's finance ministry on Sept. 22, 2022 intervened in the currency market to bolster the yen, which has plummeted against the U.S. dollar in recent months on the widening policy gap between the US and Japanese central banks. Japan intervened in the foreign exchange market on Friday to buy yen for the second time in a month after the currency hit a 32-year low near 152 to the dollar, a government official and another person familiar with the matter told Reuters. After the dollar rose to 151.94 yen, its highest since 1990, the intervention drove the Japanese currency down more than 7 yen to a low of 144.50 yen. The Ministry of Finance (MOF) intervened in several stages from around 9:35 p.m. (1235 GMT), one source said. Japan's top currency diplomat, Masato Kanda, declined to say whether the MOF had intervened.

"We are confronting speculators strictly," Suzuki told a regular news conference, when asked whether the Japanese yen was under attack by speculators. Suzuki was speaking as the dollar strengthened to 150.29 yen overnight, the highest since August 1990, after breaking the key psychological level of 150 on Thursday. "It's not that Japan's finances are undergoing a major shift in phase leading to the current yen weakening," Suzuki said, when asked if there were lessons for Japan from Britain's predicament that led to the resignation of Prime Minister Liz Truss. On the course of future monetary policy, Suzuki said it is up to the BOJ to decide. "We'll strive to maintain fiscal discipline with a major target of achieving primary budget surplus in fiscal 2025."

We absolutely cannot tolerate excessively volatile moves driven by speculative trading," Suzuki told parliament on Thursday. "We will continue to take appropriate steps against excess volatility, while watching currency market developments with a strong sense of urgency," he said. Markets are on high alert on whether Japan will intervene in the currency market again as the yen falls near the key psychological barrier of 150 to the dollar. The government, which holds jurisdiction over currency policy, spent 2.8 trillion yen ($19 billion) in dollar-selling, yen-buying intervention last month when authorities acted in the markets to prop up the yen for the first time since 1998. The BOJ is widely expected to maintain its massive stimulus programme at its next two-day policy meeting ending in Oct. 28.

☆ The Japanese yen falls past the key level of 150 to the dollar, hitting a 32-year low as officials say they're ready to intervene
▼ + stars: | 2022-10-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

The Japanese yen slid past 150 against the dollar Thursday for the first time since 1990. The breaching of the key level ups pressure on Japan's officials to intervene to shore up the currency. The yen's decline has been driven by the difference in interest rate policy in Japan and the US. We will continue to watch currency moves meticulously and with a sense of urgency," Shunichi Suzuki said, per Reuters. "Little has changed for the yen with Japanese officials seemingly willing to let the currency weaken further by capping bond yields," Nick Cawley, senior strategist at IG's DailyFX, said.

☆ Dollar gains with Treasury yields, sterling tumbles on hot inflation
▼ + stars: | 2022-10-19 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. Benchmark 10-year Treasury yields resumed their march higher as investors maintained expectations that the Federal Reserve will continue to aggressively raise rates to bring down soaring inflation, boosting demand for the U.S. currency. Register now for FREE unlimited access to Reuters.com RegisterThe U.S. central bank is expected to lift rates by another 75 basis points when it meets on November 1-2, with an additional 50 basis points or 75 basis points increase also likely in December. Japanese Finance Minister Shunichi Suzuki said on Wednesday that he was checking currency rates "meticulously" and with more frequency, local media reported. The BOJ remains an outlier among a global wave of central banks tightening monetary policy to combat soaring inflation, as it focuses on underpinning a fragile economy.

REUTERS/StaffLONDON, Oct 18 (Reuters) - European stock indexes opened higher on Tuesday, in a revival of risk appetite which analysts attributed to the turnaround in UK fiscal policy. Britain's new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss's economic plan on Monday, which had sapped investor confidence in the UK in recent weeks. MSCI's main European Index (.MSER) was up 1.5%, near its highest in 13 days. The STOXX 600 was up 1%, having also touched a 13-day high, and London's FTSE 100 was up 1.3% (.FTSE). At 0822 GMT, the U.S. dollar index was flat on the day, at 112.05 .

☆ MOF's Suzuki: Japan will act resolutely on forex volatility - Kyodo
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Oct 15 (Reuters) - There are no changes to Japan's position that it will act resolutely in case of volatility in the currency market, the Kyodo news agency quoted Japan's Finance Minister Shunichi Suzuki as saying on Saturday. The dollar jumped about 1% to a 32-year high 148.83 yen on Friday as investors remained focussed on the policy divergence between the U.S. Federal Reserve's aggressive interest rate hikes and the Bank of Japan's ultra-low rates. Register now for FREE unlimited access to Reuters.com RegisterReporting by Satoshi Sugiyama; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Their joint communique released by the U.S. Treasury late on Wednesday did give Japan something - but it was thin gruel. read more"Recognizing that many currencies have moved significantly this year with increased volatility, we reaffirm our exchange rate commitments as elaborated in May 2017," the G7 wrote. And, for the record, the 2017 phraseology was that excess volatility and disorderly currency moves have negative impacts on their economies and financial stability. read more"We cannot tolerate excessive volatility in the currency market driven by speculative moves," he opined after. The big question is whether this dollar surge is in fact a "short run" aberration or whether it is a more permanent feature of the global landscape.

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